Bright Minds Biosciences (NASDAQ:DRUG) Price Target Cut to $107.00 by Analysts at Robert W. Baird

Bright Minds Biosciences (NASDAQ:DRUG) had its price target lowered by equities researchers at Robert W. Baird from $126.00 to $107.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird‘s price objective points to a potential upside of 308.40% from the company’s previous close.

DRUG has been the subject of a number of other research reports. Wolfe Research initiated coverage on shares of Bright Minds Biosciences in a research note on Thursday, October 15th. They set an “outperform” rating and a $150.00 target price for the company. Wall Street Zen cut shares of Bright Minds Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $145.00 price target on shares of Bright Minds Biosciences in a research note on Wednesday, August 19th. Jefferies Financial Group reiterated a “buy” rating on shares of Bright Minds Biosciences in a report on Monday. Finally, BTIG Research reissued a “buy” rating and set a $37.00 price objective (down from $147.00) on shares of Bright Minds Biosciences in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $126.29.

Bright Minds Biosciences Price Performance

NASDAQ DRUG opened at $26.20 on Tuesday. The company has a 50 day simple moving average of $58.16 and a 200-day simple moving average of $73.00. The firm has a market capitalization of $254.98 million, a price-to-earnings ratio of -12.60 and a beta of -5.22. Bright Minds Biosciences has a 52-week low of $18.90 and a 52-week high of $123.75.

Bright Minds Biosciences (NASDAQ:DRUG) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($1.22) by $1.05. On average, analysts predict that Bright Minds Biosciences will post -2.93 EPS for the current year.

Hedge Funds Weigh In On Bright Minds Biosciences

A number of hedge funds have recently added to or reduced their stakes in DRUG. Janus Henderson Group PLC lifted its stake in Bright Minds Biosciences by 11.1% in the first quarter. Janus Henderson Group PLC now owns 1,284,324 shares of the company’s stock valued at $93,518,000 after acquiring an additional 128,329 shares during the last quarter. Vivo Capital LLC grew its position in Bright Minds Biosciences by 11.1% in the first quarter. Vivo Capital LLC now owns 557,172 shares of the company’s stock worth $40,657,000 after acquiring an additional 55,555 shares in the last quarter. Walleye Capital LLC grew its position in Bright Minds Biosciences by 108.0% in the first quarter. Walleye Capital LLC now owns 53,706 shares of the company’s stock worth $3,919,000 after acquiring an additional 27,880 shares in the last quarter. Orbimed Advisors LLC acquired a new position in shares of Bright Minds Biosciences during the 1st quarter worth $2,919,000. Finally, ADAR1 Capital Management LLC increased its stake in shares of Bright Minds Biosciences by 868.6% during the 1st quarter. ADAR1 Capital Management LLC now owns 33,900 shares of the company’s stock worth $2,474,000 after purchasing an additional 30,400 shares during the last quarter. Institutional investors and hedge funds own 40.52% of the company’s stock.

Key Headlines Impacting Bright Minds Biosciences

Here are the key news stories impacting Bright Minds Biosciences this week:

• Negative Sentiment: The FDA cited toxicity findings in mice, along with insufficient pharmacokinetic and juvenile-toxicity data, in placing the BMB-101-105 study on partial hold. Bright Minds must address the agency’s concerns before the trial can proceed fully, weakening near-term expectations for the epilepsy program. Bright Minds Biosciences Provides Update About Planned Study with BMB-101
• Negative Sentiment: The hold affects a planned randomized Phase 2 study intended to evaluate BMB-101 in developmental and epileptic encephalopathies, making the company’s lead clinical catalyst less predictable and potentially delaying future data readouts or development milestones. FDA dims Bright Minds outlook with partial hold
• Negative Sentiment: BTIG lowered its price target for DRUG to $37, signaling reduced confidence in the company’s near-term outlook following the FDA action. Although the revised target remains above the stock’s stated opening price, the cut reinforces the negative investor reaction. Bright Minds PT lowered to $37 at BTIG
• Neutral Sentiment: Levi & Korsinsky announced an investigation into potential claims on behalf of investors who suffered losses. The notice does not itself establish wrongdoing, but it adds legal and reputational uncertainty. Bright Minds Biosciences Investigation Notice
• Neutral Sentiment: Trading in DRUG was temporarily halted for news pending as the FDA-related announcement was disseminated.

Bright Minds Biosciences Company Profile

Bright Minds Biosciences Inc is a biotechnology company focused on developing novel treatments for neurological and psychiatric disorders. The company’s research is centered on serotonergic compounds designed to provide therapeutic benefits associated with psychedelic medicines while potentially reducing unwanted effects such as hallucinations and cardiovascular or behavioral complications.

Bright Minds’ pipeline includes BMB-101, a selective serotonin 5-HT2C receptor agonist being developed for conditions including substance use disorders.