Piper Sandler Initiates Coverage on Bright Minds Biosciences (NASDAQ:DRUG)

Stock analysts at Piper Sandler assumed coverage on shares of Bright Minds Biosciences (NASDAQ:DRUG) in a research report issued on Thursday, Marketbeat reports. The firm set an “overweight” rating and a $93.00 price target on the stock. Piper Sandler’s target price would suggest a potential upside of 189.81% from the company’s previous close.

Several other brokerages have also recently issued reports on DRUG. Robert W. Baird started coverage on Bright Minds Biosciences in a research report on Monday, November 25th. They set an “outperform” rating and a $75.00 target price on the stock. HC Wainwright initiated coverage on shares of Bright Minds Biosciences in a research report on Friday, January 10th. They set a “buy” rating and a $85.00 price target on the stock. Cantor Fitzgerald began coverage on shares of Bright Minds Biosciences in a research report on Friday, January 10th. They issued an “overweight” rating for the company. Finally, Baird R W raised shares of Bright Minds Biosciences to a “strong-buy” rating in a research report on Monday, November 25th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $84.33.

Bright Minds Biosciences Stock Down 0.6 %

Shares of NASDAQ:DRUG opened at $32.09 on Thursday. The firm has a market cap of $142.16 million, a P/E ratio of -64.18 and a beta of -6.52. Bright Minds Biosciences has a 52-week low of $0.93 and a 52-week high of $79.02. The business’s 50 day simple moving average is $38.21 and its two-hundred day simple moving average is $21.30. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.31 and a current ratio of 11.31.

Bright Minds Biosciences (NASDAQ:DRUG) last announced its quarterly earnings results on Monday, December 30th. The company reported ($0.12) EPS for the quarter. As a group, research analysts forecast that Bright Minds Biosciences will post -1.6 EPS for the current fiscal year.

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.