Bright Minds Biosciences’ (DRUG) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Bright Minds Biosciences (NASDAQ:DRUG) in a research note published on Wednesday morning,Benzinga reports. HC Wainwright currently has a $85.00 price target on the stock. HC Wainwright also issued estimates for Bright Minds Biosciences’ Q3 2025 earnings at ($0.73) EPS, Q4 2025 earnings at ($0.88) EPS, FY2025 earnings at ($2.30) EPS, Q1 2026 earnings at ($0.96) EPS, Q2 2026 earnings at ($1.27) EPS, Q3 2026 earnings at ($1.54) EPS, Q4 2026 earnings at ($1.79) EPS, FY2026 earnings at ($5.63) EPS, FY2027 earnings at ($5.72) EPS, FY2028 earnings at ($5.80) EPS and FY2029 earnings at ($1.70) EPS.

A number of other research firms also recently issued reports on DRUG. Piper Sandler started coverage on shares of Bright Minds Biosciences in a research report on Thursday, January 23rd. They set an “overweight” rating and a $93.00 price target for the company. Robert W. Baird started coverage on Bright Minds Biosciences in a research report on Monday, November 25th. They set an “outperform” rating and a $75.00 price objective for the company. Baird R W upgraded Bright Minds Biosciences to a “strong-buy” rating in a research report on Monday, November 25th. Finally, Cantor Fitzgerald started coverage on Bright Minds Biosciences in a research report on Friday, January 10th. They set an “overweight” rating for the company. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $84.33.

Bright Minds Biosciences Stock Down 0.4 %

Shares of NASDAQ:DRUG opened at $35.99 on Wednesday. The company has a market cap of $253.37 million, a P/E ratio of -211.69 and a beta of -6.71. Bright Minds Biosciences has a 52 week low of $0.93 and a 52 week high of $79.02. The company has a 50-day moving average price of $37.98 and a 200 day moving average price of $26.48.

Bright Minds Biosciences (NASDAQ:DRUG) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.24. Analysts expect that Bright Minds Biosciences will post -1.33 EPS for the current year.

Institutional Trading of Bright Minds Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of DRUG. Bank of America Corp DE purchased a new stake in Bright Minds Biosciences in the 4th quarter worth approximately $173,000. Jane Street Group LLC purchased a new stake in Bright Minds Biosciences in the 4th quarter worth approximately $238,000. Atika Capital Management LLC purchased a new stake in Bright Minds Biosciences in the 4th quarter worth approximately $540,000. Millennium Management LLC purchased a new stake in Bright Minds Biosciences in the 4th quarter worth approximately $1,454,000. Finally, Boothbay Fund Management LLC purchased a new stake in Bright Minds Biosciences in the 4th quarter worth approximately $1,606,000. 40.52% of the stock is owned by hedge funds and other institutional investors.

Bright Minds Biosciences Company Profile

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.