FY2025 Earnings Forecast for DRUG Issued By Chardan Capital

Bright Minds Biosciences Inc. (NASDAQ:DRUG - Free Report) - Investment analysts at Chardan Capital upped their FY2025 earnings per share (EPS) estimates for shares of Bright Minds Biosciences in a report released on Wednesday, May 21st. Chardan Capital analyst R. Li now forecasts that the company will post earnings of ($1.23) per share for the year, up from their prior forecast of ($1.25). Chardan Capital has a "Buy" rating and a $80.00 price objective on the stock. The consensus estimate for Bright Minds Biosciences' current full-year earnings is ($1.24) per share.

DRUG has been the subject of several other reports. Cantor Fitzgerald raised Bright Minds Biosciences to a "strong-buy" rating in a research report on Tuesday, May 13th. HC Wainwright reissued a "buy" rating and issued a $85.00 price target on shares of Bright Minds Biosciences in a research report on Wednesday, February 19th. Wall Street Zen lowered Bright Minds Biosciences from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Cowen began coverage on Bright Minds Biosciences in a research report on Tuesday, May 13th. They issued a "buy" rating for the company. Finally, TD Cowen began coverage on Bright Minds Biosciences in a research report on Tuesday, May 13th. They issued a "buy" rating for the company. One analyst has rated the stock with a sell rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $83.25.

Bright Minds Biosciences Stock Performance

NASDAQ DRUG traded down $0.09 on Monday, reaching $27.35. 25,609 shares of the stock traded hands, compared to its average volume of 821,852. The company has a fifty day moving average price of $32.07 and a 200-day moving average price of $35.80. The company has a market cap of $192.65 million, a price-to-earnings ratio of -160.87 and a beta of -5.32. 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 earnings results on Thursday, May 15th. The company reported ($0.29) earnings per share for the quarter, beating analysts' consensus estimates of ($0.39) by $0.10.

Institutional Investors Weigh In On Bright Minds Biosciences

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