DRUG FY2025 EPS Forecast Lowered by Cantor Fitzgerald

Bright Minds Biosciences Inc. (NASDAQ:DRUG - Free Report) - Stock analysts at Cantor Fitzgerald decreased their FY2025 earnings per share (EPS) estimates for Bright Minds Biosciences in a research note issued on Wednesday, July 2nd. Cantor Fitzgerald analyst P. Stavropoulos now expects that the company will earn ($2.35) per share for the year, down from their prior forecast of ($0.64). Cantor Fitzgerald has a "Overweight" rating on the stock. The consensus estimate for Bright Minds Biosciences' current full-year earnings is ($1.24) per share. Cantor Fitzgerald also issued estimates for Bright Minds Biosciences' FY2026 earnings at ($7.34) EPS.

A number of other equities analysts have also commented on DRUG. Cowen started coverage on Bright Minds Biosciences in a research note on Tuesday, May 13th. They issued a "buy" rating on the stock. Chardan Capital reissued a "buy" rating and issued a $80.00 price objective on shares of Bright Minds Biosciences in a research note on Wednesday, May 21st. TD Cowen started coverage on Bright Minds Biosciences in a research note on Tuesday, May 13th. They issued a "buy" rating on the stock. Finally, Wall Street Zen lowered Bright Minds Biosciences from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $83.25.

Bright Minds Biosciences Stock Performance

Bright Minds Biosciences stock traded up $0.29 on Friday, reaching $28.30. The company's stock had a trading volume of 18,963 shares, compared to its average volume of 829,088. The company has a market cap of $199.23 million, a price-to-earnings ratio of -78.61 and a beta of -6.01. The business's fifty day moving average price is $29.00 and its 200 day moving average price is $33.44. Bright Minds Biosciences has a twelve month low of $0.93 and a twelve month high of $79.02.

Bright Minds Biosciences (NASDAQ:DRUG - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($0.29) EPS for the quarter, topping analysts' consensus estimates of ($0.39) by $0.10.

Hedge Funds Weigh In On Bright Minds Biosciences

Several large investors have recently made changes to their positions in DRUG. Janus Henderson Group PLC acquired a new position in shares of Bright Minds Biosciences during the fourth quarter valued at $18,392,000. RA Capital Management L.P. acquired a new position in shares of Bright Minds Biosciences during the fourth quarter valued at $16,599,000. Vivo Capital LLC acquired a new position in shares of Bright Minds Biosciences during the fourth quarter valued at $9,062,000. Millennium Management LLC lifted its stake in shares of Bright Minds Biosciences by 376.9% during the first quarter. Millennium Management LLC now owns 192,557 shares of the company's stock valued at $6,946,000 after acquiring an additional 152,178 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of Bright Minds Biosciences during the fourth quarter valued at $4,870,000. Institutional investors and hedge funds own 40.52% of the company's stock.

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.