FY2025 EPS Estimates for DRUG Decreased by Cantor Fitzgerald

Bright Minds Biosciences Inc. (NASDAQ:DRUG) – Equities researchers at Cantor Fitzgerald cut their FY2025 earnings estimates for Bright Minds Biosciences in a research note issued to investors on Thursday, March 13th. Cantor Fitzgerald analyst C. Duncan now expects that the company will earn ($0.87) per share for the year, down from their previous estimate 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.

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

Bright Minds Biosciences Trading Down 1.7 %

DRUG stock opened at $35.67 on Monday. The company’s 50 day moving average is $36.66 and its 200 day moving average is $30.89. The stock has a market cap of $251.26 million, a price-to-earnings ratio of -209.81 and a beta of -6.45. Bright Minds Biosciences has a 1-year low of $0.93 and a 1-year high of $79.02.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE bought a new position in Bright Minds Biosciences during the fourth quarter valued at approximately $173,000. Jane Street Group LLC bought a new position in shares of Bright Minds Biosciences in the fourth quarter worth approximately $238,000. Atika Capital Management LLC bought a new position in shares of Bright Minds Biosciences in the fourth quarter worth approximately $540,000. Millennium Management LLC bought a new position in shares of Bright Minds Biosciences in the fourth quarter worth approximately $1,454,000. Finally, Boothbay Fund Management LLC bought a new position in shares of Bright Minds Biosciences in the fourth quarter worth approximately $1,606,000. 40.52% of the stock is currently owned by 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.