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

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

A number of other research firms also recently issued reports on DRUG. Baird R W upgraded shares of Bright Minds Biosciences to a “strong-buy” rating in a research note on Monday, November 25th. HC Wainwright began coverage on Bright Minds Biosciences in a report on Friday, January 10th. They issued a “buy” rating and a $85.00 price objective on the stock. Cantor Fitzgerald began coverage on shares of Bright Minds Biosciences in a research report on Friday, January 10th. They set an “overweight” rating for the company. Finally, Robert W. Baird initiated coverage on shares of Bright Minds Biosciences in a research note on Monday, November 25th. They set an “outperform” rating and a $75.00 price objective on the stock. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Bright Minds Biosciences currently has an average rating of “Buy” and an average target price of $84.33.

Bright Minds Biosciences Stock Down 3.2 %

NASDAQ DRUG opened at $32.28 on Thursday. The company has a market capitalization of $143.13 million, a P/E ratio of -64.56 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 stock’s 50-day moving average price is $38.36 and its 200-day moving average price is $21.08. The company has a quick ratio of 11.31, a current ratio of 11.31 and a debt-to-equity ratio of 0.01.

Bright Minds Biosciences (NASDAQ:DRUG) last issued its quarterly earnings data on Monday, December 30th. The company reported ($0.12) earnings per share (EPS) for the quarter. On average, equities research analysts predict that Bright Minds Biosciences will post -2.58 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.