Bright Minds Biosciences (NASDAQ:DRUG) Issues Earnings Results, Beats Estimates By $0.24 EPS

Bright Minds Biosciences (NASDAQ:DRUG) released its quarterly earnings data on Thursday. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.24, Zacks reports.

Bright Minds Biosciences Stock Performance

Bright Minds Biosciences stock traded up $0.54 during mid-day trading on Thursday, reaching $45.72. 41,970 shares of the stock traded hands, compared to its average volume of 84,882. The stock has a market capitalization of $202.54 million, a PE ratio of -91.44 and a beta of -6.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.31 and a quick ratio of 11.31. The business’s 50-day moving average is $37.89 and its 200-day moving average is $24.78. Bright Minds Biosciences has a 12-month low of $0.93 and a 12-month high of $79.02.

Analyst Ratings Changes

Several research analysts have recently weighed in on DRUG shares. Piper Sandler initiated coverage on Bright Minds Biosciences in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $93.00 price target for the company. Cantor Fitzgerald began coverage on Bright Minds Biosciences in a report on Friday, January 10th. They issued an “overweight” rating for the company. Robert W. Baird assumed coverage on shares of Bright Minds Biosciences in a research note on Monday, November 25th. They set an “outperform” rating and a $75.00 target price on the stock. Baird R W upgraded shares of Bright Minds Biosciences to a “strong-buy” rating in a research note on Monday, November 25th. Finally, HC Wainwright assumed coverage on shares of Bright Minds Biosciences in a report on Friday, January 10th. They set a “buy” rating and a $85.00 price objective for the company. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Bright Minds Biosciences has a consensus rating of “Buy” and a consensus price target of $84.33.

About Bright Minds Biosciences

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.