Bright Minds Biosciences (NASDAQ:DRUG) Upgraded at Baird R W

Baird R W upgraded shares of Bright Minds Biosciences (NASDAQ:DRUG) to a strong-buy rating in a report issued on Monday,Zacks.com reports.

Separately, Robert W. Baird initiated coverage on Bright Minds Biosciences in a research note on Monday. They set an “outperform” rating and a $75.00 price target for the company.

Bright Minds Biosciences Stock Performance

Shares of NASDAQ DRUG opened at $39.18 on Monday. The stock has a fifty day moving average price of $27.00 and a two-hundred day moving average price of $10.23. The firm has a market cap of $173.57 million, a P/E ratio of -57.01 and a beta of -6.62. Bright Minds Biosciences has a 1 year low of $0.93 and a 1 year high of $79.02.

Insider Transactions at Bright Minds Biosciences

In other Bright Minds Biosciences news, major shareholder Cormorant Asset Management, Lp bought 372,591 shares of Bright Minds Biosciences stock in a transaction dated Tuesday, October 15th. The stock was bought at an average price of $5.53 per share, for a total transaction of $2,060,428.23. Following the completion of the acquisition, the insider now directly owns 825,000 shares of the company’s stock, valued at approximately $4,562,250. This trade represents a 82.36 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 42.66% of the company’s stock.

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.