Cantor Fitzgerald Has Positive View of DRUG FY2025 Earnings

Key Points

• Cantor Fitzgerald has increased its FY2025 earnings per share (EPS) estimate for Bright Minds Biosciences (NASDAQ:DRUG) from ($2.35) to ($1.93), maintaining an "Overweight" rating on the stock.
• The consensus EPS estimate for Bright Minds Biosciences is currently ($1.24), indicating a notable divergence from Cantor Fitzgerald's forecast.
• Several analysts have a positive outlook on DRUG, with a majority rating it as "Buy," and a consensus price target around $83.25.

Bright Minds Biosciences Inc. (NASDAQ:DRUG - Free Report) - Research analysts at Cantor Fitzgerald increased their FY2025 EPS estimates for shares of Bright Minds Biosciences in a research report issued to clients and investors on Tuesday, August 19th. Cantor Fitzgerald analyst P. Stavropoulos now forecasts that the company will post earnings per share of ($1.93) for the year, up from their prior forecast of ($2.35). 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 ($6.95) EPS.

DRUG has been the topic of several other reports. HC Wainwright reaffirmed a "buy" rating and set a $85.00 price target on shares of Bright Minds Biosciences in a research report on Tuesday. TD Cowen initiated coverage on Bright Minds Biosciences in a research report on Tuesday, May 13th. They set a "buy" rating on the stock. Wall Street Zen downgraded Bright Minds Biosciences from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Cowen initiated coverage on Bright Minds Biosciences in a research report on Tuesday, May 13th. They set a "buy" rating on the stock. Finally, Chardan Capital reaffirmed a "buy" rating and set a $80.00 price target on shares of Bright Minds Biosciences in a research report on Wednesday, May 21st. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. According to data from MarketBeat, Bright Minds Biosciences has an average rating of "Buy" and a consensus price target of $83.25.

Bright Minds Biosciences Price Performance

DRUG stock opened at $43.02 on Thursday. The firm's fifty day simple moving average is $31.09 and its 200-day simple moving average is $32.67. The company has a market capitalization of $302.86 million, a P/E ratio of -46.26 and a beta of -6.07. Bright Minds Biosciences has a 12 month low of $0.94 and a 12 month high of $79.02.

Bright Minds Biosciences (NASDAQ:DRUG - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.53) EPS for the quarter, topping analysts' consensus estimates of ($0.59) by $0.06.

Hedge Funds Weigh In On Bright Minds Biosciences

Large investors have recently made changes to their positions in the company. Bank of America Corp DE acquired a new position in shares of Bright Minds Biosciences in the 4th quarter valued at $173,000. Jane Street Group LLC acquired a new position in shares of Bright Minds Biosciences in the 4th quarter valued at $238,000. Millennium Management LLC acquired a new position in shares of Bright Minds Biosciences in the 4th quarter valued at $1,454,000. RA Capital Management L.P. acquired a new position in shares of Bright Minds Biosciences in the 4th quarter valued at $16,599,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Bright Minds Biosciences in the 4th quarter valued at $2,465,000. 40.52% of the stock is currently owned by institutional investors and hedge funds.

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.

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