Cantor Fitzgerald Issues Negative Estimate for DRUG Earnings

Bright Minds Biosciences Inc. (NASDAQ:DRUG) – Investment analysts at Cantor Fitzgerald lowered their FY2025 earnings per share estimates for Bright Minds Biosciences in a note issued to investors on Thursday, March 13th. Cantor Fitzgerald analyst C. Duncan now anticipates that the company will post earnings per share of ($0.87) for the year, down from their prior forecast of ($0.62). Cantor Fitzgerald currently has a “Overweight” rating on the stock. The consensus estimate for Bright Minds Biosciences’ current full-year earnings is ($1.24) per share.

Bright Minds Biosciences (NASDAQ:DRUG) last announced its earnings results on Thursday, February 13th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.23) by $0.24.

A number of other equities analysts have also recently issued reports on the company. Robert W. Baird began coverage on Bright Minds Biosciences in a report on Monday, November 25th. They set an “outperform” rating and a $75.00 target price for the company. Piper Sandler initiated coverage on Bright Minds Biosciences in a report on Thursday, January 23rd. They set an “overweight” rating and a $93.00 price objective for the company. Baird R W upgraded Bright Minds Biosciences to a “strong-buy” rating in a research note on Monday, November 25th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $85.00 price target on shares of Bright Minds Biosciences in a research note on Wednesday, February 19th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $84.33.

Bright Minds Biosciences Stock Up 1.4 %

Shares of DRUG stock opened at $36.27 on Monday. The company has a market capitalization of $255.49 million, a price-to-earnings ratio of -213.34 and a beta of -6.45. Bright Minds Biosciences has a 12-month low of $0.93 and a 12-month high of $79.02. The firm has a fifty day moving average of $36.75 and a 200-day moving average of $30.65.

Institutional Trading of Bright Minds Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC acquired a new position in Bright Minds Biosciences during the fourth quarter valued at approximately $18,392,000. RA Capital Management L.P. acquired a new stake in shares of Bright Minds Biosciences in the 4th quarter valued at approximately $16,599,000. Vivo Capital LLC bought a new position in shares of Bright Minds Biosciences in the fourth quarter valued at $9,062,000. Point72 Asset Management L.P. acquired a new position in Bright Minds Biosciences during the fourth quarter worth $4,870,000. Finally, Adage Capital Partners GP L.L.C. bought a new stake in Bright Minds Biosciences during the fourth quarter worth $4,773,000. Institutional investors and hedge funds 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.