Cantor Fitzgerald Weighs in on DRUG FY2025 Earnings

Bright Minds Biosciences Inc. (NASDAQ:DRUG - Free Report) - Research analysts at Cantor Fitzgerald dropped their FY2025 earnings estimates for shares of Bright Minds Biosciences in a research report issued on Wednesday, July 2nd. Cantor Fitzgerald analyst P. Stavropoulos now anticipates that the company will post earnings of ($2.35) per share for the year, down from their prior estimate of ($0.64). Cantor Fitzgerald currently 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.

Other analysts have also recently issued research reports about the stock. TD Cowen started coverage on shares of Bright Minds Biosciences in a research report on Tuesday, May 13th. They set a "buy" rating on the stock. Wall Street Zen lowered Bright Minds Biosciences from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Chardan Capital reaffirmed a "buy" rating and issued a $80.00 price target on shares of Bright Minds Biosciences in a research note on Wednesday, May 21st. Finally, Cowen assumed coverage on Bright Minds Biosciences in a research report on Tuesday, May 13th. They set a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $83.25.

Bright Minds Biosciences Stock Performance

NASDAQ DRUG traded down $1.04 during trading on Friday, hitting $27.33. 33,549 shares of the company's stock traded hands, compared to its average volume of 825,906. The business has a 50 day moving average of $29.00 and a 200-day moving average of $33.40. The stock has a market capitalization of $192.40 million, a price-to-earnings ratio of -75.91 and a beta of -6.01. Bright Minds Biosciences has a 12-month low of $0.93 and a 12-month high of $79.02.

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

Institutional Investors Weigh In On Bright Minds Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC purchased a new position in Bright Minds Biosciences in the 4th quarter worth approximately $18,392,000. RA Capital Management L.P. purchased a new stake in shares of Bright Minds Biosciences in the 4th quarter worth $16,599,000. Vivo Capital LLC bought a new stake in shares of Bright Minds Biosciences in the 4th quarter valued at about $9,062,000. Millennium Management LLC boosted its position in 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 purchasing an additional 152,178 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Bright Minds Biosciences in the 4th quarter worth $4,870,000. Hedge funds and other institutional investors 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.