HC Wainwright Has Positive Estimate for DRUG FY2025 Earnings

Key Points

• HC Wainwright has upgraded Bright Minds Biosciences (NASDAQ:DRUG) FY2025 earnings estimate to ($1.86) per share, an increase from the prior estimate of ($2.12).
• Bright Minds has received multiple positive ratings from various brokerages, maintaining a consensus rating of "Buy" along with an average price target of $83.25.
• The company reported quarterly earnings of (\$0.53) per share, surpassing analysts' estimates of (\$0.59) by $0.06.

Bright Minds Biosciences Inc. (NASDAQ:DRUG - Free Report) - Research analysts at HC Wainwright increased their FY2025 earnings estimates for shares of Bright Minds Biosciences in a note issued to investors on Tuesday, August 19th. HC Wainwright analyst P. Trucchio now expects that the company will earn ($1.86) per share for the year, up from their prior estimate of ($2.12). HC Wainwright has a "Buy" rating and a $85.00 price objective on the stock. The consensus estimate for Bright Minds Biosciences' current full-year earnings is ($1.24) per share. HC Wainwright also issued estimates for Bright Minds Biosciences' Q2 2026 earnings at ($1.29) EPS, Q4 2026 earnings at ($1.83) EPS, FY2026 earnings at ($5.76) EPS, FY2027 earnings at ($5.87) EPS and FY2028 earnings at ($5.95) EPS.

A number of other brokerages also recently issued reports on DRUG. Chardan Capital reaffirmed a "buy" rating and issued a $80.00 price objective on shares of Bright Minds Biosciences in a research report on Wednesday, May 21st. Cowen began coverage on shares of Bright Minds Biosciences in a research report on Tuesday, May 13th. They issued a "buy" rating for the company. TD Cowen began coverage on shares of Bright Minds Biosciences in a research note on Tuesday, May 13th. They issued a "buy" rating on the stock. Wall Street Zen cut shares of Bright Minds Biosciences from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Bright Minds Biosciences in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $83.25.

Bright Minds Biosciences Stock Performance

Shares of DRUG stock opened at $43.02 on Thursday. Bright Minds Biosciences has a 52-week low of $0.94 and a 52-week high of $79.02. The company has a 50-day simple moving average of $31.09 and a two-hundred day simple moving average of $32.67. The company has a market capitalization of $302.86 million, a price-to-earnings ratio of -46.26 and a beta of -6.07.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Bright Minds Biosciences during the 2nd quarter valued at approximately $28,000. JPMorgan Chase & Co. lifted its stake in shares of Bright Minds Biosciences by 624.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,173 shares of the company's stock valued at $57,000 after buying an additional 1,873 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Bright Minds Biosciences during the 2nd quarter valued at approximately $66,000. New York State Common Retirement Fund purchased a new stake in shares of Bright Minds Biosciences during the 2nd quarter valued at approximately $107,000. Finally, Bank of America Corp DE purchased a new stake in shares of Bright Minds Biosciences during the 4th quarter valued at approximately $173,000. 40.52% of the stock is currently 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.

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