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

Research analysts at Piper Sandler initiated coverage on shares of Bright Minds Biosciences (NASDAQ:DRUG) in a report released on Thursday, Marketbeat.com reports. The firm set an “overweight” rating and a $93.00 price target on the stock. Piper Sandler’s price objective suggests a potential upside of 189.81% from the stock’s current price.

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

Bright Minds Biosciences Stock Down 0.6 %

DRUG stock opened at $32.09 on Thursday. Bright Minds Biosciences has a twelve month low of $0.93 and a twelve month high of $79.02. The firm has a market capitalization of $142.16 million, a PE ratio of -64.18 and a beta of -6.52. The company has a quick ratio of 11.31, a current ratio of 11.31 and a debt-to-equity ratio of 0.01. The stock has a 50-day simple moving average of $38.21 and a two-hundred day simple moving average of $21.30.

Bright Minds Biosciences (NASDAQ:DRUG) last posted its earnings results on Monday, December 30th. The company reported ($0.12) earnings per share (EPS) for the quarter. On average, equities analysts predict that Bright Minds Biosciences will post -1.6 EPS for the current fiscal 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.