What is Chardan Capital's Forecast for DRUG FY2025 Earnings?

Bright Minds Biosciences Inc. (NASDAQ:DRUG - Free Report) - Investment analysts at Chardan Capital upped their FY2025 EPS estimates for Bright Minds Biosciences in a research note issued to investors on Wednesday, May 21st. Chardan Capital analyst R. Li now expects that the company will post earnings per share of ($1.23) for the year, up from their previous 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.

Several other equities analysts have also recently issued reports on the company. Cowen initiated coverage on Bright Minds Biosciences in a research note on Tuesday, May 13th. They issued a "buy" rating for the company. Wall Street Zen downgraded Bright Minds Biosciences from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. TD Cowen assumed coverage on shares of Bright Minds Biosciences in a report on Tuesday, May 13th. They issued a "buy" rating for the company. HC Wainwright reissued a "buy" rating and set a $85.00 price target on shares of Bright Minds Biosciences in a report on Wednesday, February 19th. Finally, Cantor Fitzgerald raised shares of Bright Minds Biosciences to a "strong-buy" rating in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $83.25.

Bright Minds Biosciences Trading Down 5.4%

NASDAQ:DRUG traded down $1.57 during midday trading on Monday, reaching $27.44. The company had a trading volume of 39,598 shares, compared to its average volume of 825,050. The firm has a market capitalization of $193.29 million, a price-to-earnings ratio of -161.40 and a beta of -5.32. The stock's fifty day simple moving average is $32.07 and its 200-day simple moving average is $35.80. 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) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.10.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. RA Capital Management L.P. purchased a new position in Bright Minds Biosciences during the 4th quarter valued at about $16,599,000. Vivo Capital LLC purchased a new position in shares of Bright Minds Biosciences during the 4th quarter worth approximately $9,062,000. Atika Capital Management LLC purchased a new position in shares of Bright Minds Biosciences during the 4th quarter worth approximately $540,000. Walleye Capital LLC purchased a new position in shares of Bright Minds Biosciences during the 4th quarter worth approximately $3,717,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Bright Minds Biosciences during the 4th quarter worth approximately $2,465,000. 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.