Bright Minds Biosciences (NASDAQ:DRUG) Coverage Initiated by Analysts at Piper Sandler

Equities researchers at Piper Sandler assumed coverage on shares of Bright Minds Biosciences (NASDAQ:DRUG) in a research note issued on Thursday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $93.00 price target on the stock. Piper Sandler’s target price would indicate a potential upside of 178.86% from the stock’s current price.

A number of other analysts also recently issued reports on the company. HC Wainwright initiated coverage on Bright Minds Biosciences in a research report on Friday, January 10th. They set a “buy” rating and a $85.00 price target for the company. Robert W. Baird initiated coverage on shares of Bright Minds Biosciences in a research report on Monday, November 25th. They set an “outperform” rating and a $75.00 target price for the company. Cantor Fitzgerald assumed coverage on shares of Bright Minds Biosciences in a report on Friday, January 10th. They issued an “overweight” rating on the stock. Finally, Baird R W raised shares of Bright Minds Biosciences to a “strong-buy” rating in a report on Monday, November 25th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $84.33.

Bright Minds Biosciences Stock Performance

NASDAQ DRUG opened at $33.35 on Thursday. The company’s 50 day simple moving average is $38.57 and its two-hundred day simple moving average is $21.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.31 and a quick ratio of 11.31. Bright Minds Biosciences has a 1 year low of $0.93 and a 1 year high of $79.02. The stock has a market capitalization of $147.74 million, a PE ratio of -66.70 and a beta of -6.52.

Bright Minds Biosciences (NASDAQ:DRUG) last released its quarterly earnings results on Monday, December 30th. The company reported ($0.12) earnings per share for the quarter. Analysts predict that Bright Minds Biosciences will post -2.58 earnings per share for the current fiscal year.

About Bright Minds Biosciences

Bright Minds Biosciences Inc, a biotechnology company, develops therapeutics to improve the lives of patients with severe and life-altering diseases in the United States. Its portfolio of selective 5-HT receptor agonists includes 5-HT2C, 5-HT2A, and 5-HT2C/A for the treatment of epilepsy, pain, and neuropsychiatry; and BMB-101 which completes phase 1 trial for undisclosed seizure disorder.