Bright Minds Biosciences (NASDAQ:DRUG) Now Covered by Analysts at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of Bright Minds Biosciences (NASDAQ:DRUG) in a research report released on Friday, Marketbeat Ratings reports. The firm issued an overweight rating on the stock.

A number of other research analysts also recently weighed in on DRUG. HC Wainwright began coverage on Bright Minds Biosciences in a research note on Friday. They issued a “buy” rating and a $85.00 price target on the stock. Robert W. Baird assumed coverage on Bright Minds Biosciences in a research note on Monday, November 25th. They issued an “outperform” rating and a $75.00 target price on the stock. Finally, Baird R W upgraded Bright Minds Biosciences to a “strong-buy” rating in a research report on Monday, November 25th.

Bright Minds Biosciences Stock Down 5.2 %

Bright Minds Biosciences stock opened at $38.89 on Friday. The business’s 50-day simple moving average is $40.68 and its 200 day simple moving average is $18.68. The stock 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 has a 12-month low of $0.93 and a 12-month high of $79.02.

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

Insider Activity

In other Bright Minds Biosciences news, major shareholder Cormorant Asset Management, Lp acquired 372,591 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was acquired at an average cost of $5.53 per share, for a total transaction of $2,060,428.23. Following the transaction, the insider now owns 825,000 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which can be accessed through this link. 42.66% of the stock is owned by company 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.