Bright Minds Biosciences (NASDAQ:DRUG) Now Covered by Analysts at HC Wainwright

HC Wainwright started coverage on shares of Bright Minds Biosciences (NASDAQ:DRUG) in a research note published on Friday morning, MarketBeat.com reports. The firm issued a buy rating and a $85.00 price objective on the stock.

Several other research analysts have also issued reports on the stock. Robert W. Baird began coverage on shares of Bright Minds Biosciences in a research report on Monday, November 25th. They issued an “outperform” rating and a $75.00 price target on the stock. Baird R W upgraded Bright Minds Biosciences to a “strong-buy” rating in a report on Monday, November 25th.

Bright Minds Biosciences Stock Down 5.2 %

Shares of Bright Minds Biosciences stock opened at $38.89 on Friday. The business has a fifty day simple moving average of $40.68 and a 200-day simple moving average of $18.68. Bright Minds Biosciences has a fifty-two week low of $0.93 and a fifty-two week high of $79.02. The firm has a market cap of $172.44 million, a price-to-earnings ratio of -57.19 and a beta of -6.52.

Bright Minds Biosciences (NASDAQ:DRUG) last issued its quarterly earnings results on Monday, December 30th. The company reported ($0.12) earnings per share for the quarter.

Insider Activity at Bright Minds Biosciences

In other Bright Minds Biosciences news, major shareholder Cormorant Asset Management, Lp purchased 372,591 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were purchased at an average cost of $5.53 per share, with a total value of $2,060,428.23. Following the completion of the transaction, the insider now owns 825,000 shares of the company’s stock, valued at approximately $4,562,250. This represents a 82.36 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 42.66% of the stock is owned by insiders.

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.