FY2025 EPS Estimates for DRUG Decreased by Cantor Fitzgerald

Bright Minds Biosciences Inc. (NASDAQ:DRUG) – Equities research analysts at Cantor Fitzgerald cut their FY2025 earnings estimates for shares of Bright Minds Biosciences in a note issued to investors on Thursday, March 13th. Cantor Fitzgerald analyst C. Duncan now expects that the company will earn ($0.87) per share for the year, down from their previous forecast of ($0.62). Cantor Fitzgerald currently has a “Overweight” rating on the stock. The consensus estimate for Bright Minds Biosciences’ current full-year earnings is ($1.24) per share.

Several other equities analysts have also weighed in on the stock. Robert W. Baird started coverage on shares of Bright Minds Biosciences in a research report on Monday, November 25th. They set an “outperform” rating and a $75.00 price target for the company. Piper Sandler started coverage on shares of Bright Minds Biosciences in a report on Thursday, January 23rd. They set an “overweight” rating and a $93.00 price objective on the stock. Baird R W raised shares of Bright Minds Biosciences to a “strong-buy” rating in a report on Monday, November 25th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $85.00 price objective on shares of Bright Minds Biosciences in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $84.33.

Bright Minds Biosciences Stock Performance

DRUG opened at $35.67 on Monday. The firm has a market cap of $251.26 million, a P/E ratio of -209.81 and a beta of -6.45. The firm has a 50-day moving average of $36.66 and a 200 day moving average of $30.89. Bright Minds Biosciences has a fifty-two week low of $0.93 and a fifty-two week high of $79.02.

Bright Minds Biosciences (NASDAQ:DRUG) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.24.

Institutional Investors Weigh In On Bright Minds Biosciences

Institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC purchased a new stake in shares of Bright Minds Biosciences in the fourth quarter worth about $18,392,000. RA Capital Management L.P. purchased a new stake in shares of Bright Minds Biosciences in the fourth quarter worth about $16,599,000. Vivo Capital LLC purchased a new stake in shares of Bright Minds Biosciences in the fourth quarter worth about $9,062,000. Point72 Asset Management L.P. purchased a new stake in shares of Bright Minds Biosciences in the fourth quarter worth about $4,870,000. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in shares of Bright Minds Biosciences in the fourth quarter worth about $4,773,000. 40.52% of the stock is owned by hedge funds and other institutional investors.

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.