Research Analysts Offer Predictions for DRUG FY2025 Earnings

Bright Minds Biosciences Inc. (NASDAQ:DRUG - Free Report) - Equities researchers at Chardan Capital increased their FY2025 EPS estimates for Bright Minds Biosciences in a research report issued to clients and investors on Wednesday, May 21st. Chardan Capital analyst R. Li now anticipates that the company will post earnings per share of ($1.23) for the year, up from their prior estimate of ($1.25). Chardan Capital currently has a "Buy" rating and a $80.00 target price on the stock. The consensus estimate for Bright Minds Biosciences' current full-year earnings is ($1.24) per share.

DRUG has been the topic of several other reports. HC Wainwright restated a "buy" rating and issued a $85.00 price objective on shares of Bright Minds Biosciences in a research report on Wednesday, February 19th. Cowen assumed coverage on shares of Bright Minds Biosciences in a report on Tuesday, May 13th. They issued a "buy" rating on the stock. Cantor Fitzgerald raised shares of Bright Minds Biosciences to a "strong-buy" rating in a report on Tuesday, May 13th. Wall Street Zen cut Bright Minds Biosciences from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, TD Cowen started coverage on Bright Minds Biosciences in a research report on Tuesday, May 13th. They set a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $83.25.

Bright Minds Biosciences Price Performance

Shares of NASDAQ:DRUG traded down $0.40 on Monday, hitting $26.95. The company's stock had a trading volume of 1,307 shares, compared to its average volume of 50,030. The company has a market capitalization of $189.84 million, a PE ratio of -158.52 and a beta of -5.32. The company has a 50-day simple moving average of $31.76 and a 200 day simple moving average of $35.62. Bright Minds Biosciences has a 1 year low of $0.93 and a 1 year 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) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.10.

Institutional Trading of Bright Minds Biosciences

Several hedge funds have recently added to or reduced their stakes in DRUG. Bank of America Corp DE purchased a new position in shares of Bright Minds Biosciences in the fourth quarter worth about $173,000. Jane Street Group LLC bought a new position in Bright Minds Biosciences during the 4th quarter worth approximately $238,000. OMERS ADMINISTRATION Corp purchased a new position in Bright Minds Biosciences in the 1st quarter worth approximately $505,000. Atika Capital Management LLC bought a new stake in Bright Minds Biosciences during the 4th quarter valued at $540,000. Finally, Goldman Sachs Group Inc. purchased a new stake in Bright Minds Biosciences during the 1st quarter valued at $802,000. 40.52% of the stock is owned by institutional investors.

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.