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

Investment analysts at Cantor Fitzgerald initiated coverage on shares of Bright Minds Biosciences (NASDAQ:DRUG) in a research note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating on the stock.

Other research analysts have also issued reports about the company. Baird R W raised Bright Minds Biosciences to a “strong-buy” rating in a report on Monday, November 25th. Robert W. Baird initiated coverage on Bright Minds Biosciences in a research report on Monday, November 25th. They set an “outperform” rating and a $75.00 target price for the company. Finally, HC Wainwright began coverage on shares of Bright Minds Biosciences in a research note on Friday. They issued a “buy” rating and a $85.00 price objective on the stock.

Bright Minds Biosciences Trading Up 2.0 %

Shares of NASDAQ:DRUG opened at $41.04 on Friday. Bright Minds Biosciences has a 1-year low of $0.93 and a 1-year high of $79.02. The stock has a market capitalization of $181.97 million, a P/E ratio of -60.35 and a beta of -6.52. The business has a 50-day moving average price of $40.79 and a two-hundred day moving average price of $18.52.

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.

Insider Activity

In other news, major shareholder Cormorant Asset Management, Lp purchased 372,591 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were acquired 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 owns 825,000 shares in the company, valued at approximately $4,562,250. The trade was a 82.36 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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.