Equities Analysts Issue Forecasts for DRUG Q3 Earnings

Bright Minds Biosciences Inc. (NASDAQ:DRUG) – Research analysts at HC Wainwright cut their Q3 2026 earnings per share estimates for shares of Bright Minds Biosciences in a research note issued on Monday, June 1st. HC Wainwright analyst P. Trucchio now expects that the company will post earnings per share of ($1.81) for the quarter, down from their prior estimate of ($1.74). HC Wainwright currently has a “Buy” rating and a $145.00 price target on the stock. The consensus estimate for Bright Minds Biosciences’ current full-year earnings is ($4.99) per share. HC Wainwright also issued estimates for Bright Minds Biosciences’ Q4 2026 earnings at ($2.32) EPS, FY2026 earnings at ($5.92) EPS, Q1 2027 earnings at ($2.12) EPS, Q2 2027 earnings at ($2.38) EPS, Q3 2027 earnings at ($2.19) EPS, Q4 2027 earnings at ($2.35) EPS, FY2027 earnings at ($9.07) EPS, FY2028 earnings at ($7.93) EPS, FY2029 earnings at ($4.04) EPS and FY2030 earnings at $3.09 EPS.

Bright Minds Biosciences (NASDAQ:DRUG) last announced its earnings results on Wednesday, May 20th. The company reported ($0.80) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.06.

Several other research analysts also recently commented on DRUG. Piper Sandler reiterated an “overweight” rating and issued a $220.00 target price (up from $190.00) on shares of Bright Minds Biosciences in a report on Wednesday, May 20th. Jefferies Financial Group began coverage on shares of Bright Minds Biosciences in a report on Monday, April 13th. They set a “buy” rating and a $145.00 price target for the company. BTIG Research reiterated a “buy” rating and issued a $147.00 price objective on shares of Bright Minds Biosciences in a research note on Monday, March 30th. Wall Street Zen cut Bright Minds Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Finally, Robert W. Baird set a $126.00 target price on Bright Minds Biosciences in a research note on Friday, February 13th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $143.83.

Bright Minds Biosciences Trading Down 5.2%

Shares of Bright Minds Biosciences stock opened at $76.78 on Wednesday. The firm has a fifty day simple moving average of $82.27 and a 200-day simple moving average of $79.96. The stock has a market capitalization of $747.22 million, a price-to-earnings ratio of -31.47 and a beta of -5.53. Bright Minds Biosciences has a 1-year low of $23.17 and a 1-year high of $123.75.

Insiders Place Their Bets

In other Bright Minds Biosciences news, major shareholder Cormorant Asset Management, Lp sold 109,331 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $89.50, for a total value of $9,785,124.50. Following the sale, the insider directly owned 950,000 shares in the company, valued at $85,025,000. This trade represents a 10.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 42.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bright Minds Biosciences

Several hedge funds have recently made changes to their positions in DRUG. Braidwell LP acquired a new stake in Bright Minds Biosciences during the third quarter worth about $18,422,000. Vivo Capital LLC raised its holdings in Bright Minds Biosciences by 99.4% in the 3rd quarter. Vivo Capital LLC now owns 501,617 shares of the company’s stock valued at $30,428,000 after acquiring an additional 250,045 shares in the last quarter. MPM Bioimpact LLC bought a new stake in shares of Bright Minds Biosciences in the 4th quarter worth approximately $17,961,000. Balyasny Asset Management L.P. bought a new stake in shares of Bright Minds Biosciences in the 3rd quarter worth approximately $11,339,000. Finally, Millennium Management LLC grew its holdings in shares of Bright Minds Biosciences by 376.9% during the 1st quarter. Millennium Management LLC now owns 192,557 shares of the company’s stock worth $6,946,000 after purchasing an additional 152,178 shares in the last quarter. Institutional investors own 40.52% of the company’s stock.

Bright Minds Biosciences Company Profile

Bright Minds Biosciences Inc, trading on the NASDAQ under the symbol DRUG, is a clinical-stage biotechnology company focused on developing novel small-molecule therapeutics for mental health and neurodegenerative disorders. The company’s research leverages proprietary chemistry platforms to create serotonin-modulating and neuroprotective compounds derived from psychedelic-inspired structures. Bright Minds aims to address unmet needs in conditions such as major depressive disorder, post-traumatic stress disorder and Alzheimer’s disease through orally administered treatments.

The company’s lead candidate, BMB-101, is an oral 5-HT2A receptor-modulating compound in clinical development for mood and anxiety disorders.