Bright Minds Biosciences (NASDAQ:DRUG) Coverage Initiated by Analysts at Cantor Fitzgerald

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

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

Bright Minds Biosciences Stock Up 2.0 %

Shares of DRUG stock opened at $41.04 on Friday. The firm has a market cap of $181.97 million, a P/E ratio of -60.35 and a beta of -6.52. The company has a 50 day moving average of $40.79 and a 200-day moving average of $18.52. Bright Minds Biosciences has a 12-month low of $0.93 and a 12-month high of $79.02.

Bright Minds Biosciences (NASDAQ:DRUG) last posted its quarterly earnings results on Monday, December 30th. The company reported ($0.12) earnings per share for the quarter.

Insiders Place Their Bets

In other news, major shareholder Cormorant Asset Management, Lp purchased 372,591 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were bought at an average cost of $5.53 per share, for a total transaction of $2,060,428.23. Following the completion of the transaction, the insider now directly owns 825,000 shares of the company’s stock, valued at $4,562,250. This trade represents a 82.36 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 42.66% of the company’s stock.

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.