Bright Minds Biosciences (NASDAQ:DRUG) Research Coverage Started at Piper Sandler

Piper Sandler began coverage on shares of Bright Minds Biosciences (NASDAQ:DRUG) in a research report released on Thursday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $93.00 price target on the stock.

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

Bright Minds Biosciences Stock Down 0.6 %

DRUG opened at $32.09 on Thursday. The stock has a market cap of $142.16 million, a PE ratio of -64.18 and a beta of -6.52. The company has a current ratio of 11.31, a quick ratio of 11.31 and a debt-to-equity ratio of 0.01. Bright Minds Biosciences has a 1-year low of $0.93 and a 1-year high of $79.02. The stock’s fifty day simple moving average is $38.21 and its 200 day simple moving average is $21.44.

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. As a group, research analysts expect that Bright Minds Biosciences will post -1.6 earnings per share for the current 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.