Bright Minds Biosciences (NASDAQ:DRUG) Coverage Initiated at Piper Sandler

Piper Sandler began coverage on shares of Bright Minds Biosciences (NASDAQ:DRUG) in a research note published on Thursday morning, Marketbeat.com reports. The firm issued an overweight rating and a $93.00 target price on the stock.

A number of other research firms also recently issued reports on DRUG. HC Wainwright initiated coverage on Bright Minds Biosciences in a research note on Friday, January 10th. They set a “buy” rating and a $85.00 price target for the company. Robert W. Baird assumed coverage on Bright Minds Biosciences in a research report on Monday, November 25th. They set an “outperform” rating and a $75.00 target price on the stock. Cantor Fitzgerald assumed coverage on Bright Minds Biosciences in a research report on Friday, January 10th. They issued an “overweight” rating for the company. Finally, Baird R W raised shares of Bright Minds Biosciences to a “strong-buy” rating in a report on Monday, November 25th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $84.33.

Bright Minds Biosciences Price Performance

Shares of DRUG opened at $32.09 on Thursday. The business’s fifty day moving average is $38.21 and its 200 day moving average is $21.44. Bright Minds Biosciences has a 12-month low of $0.93 and a 12-month high of $79.02. The company has a quick ratio of 11.31, a current ratio of 11.31 and a debt-to-equity ratio of 0.01. The stock has a market cap of $142.16 million, a P/E ratio of -64.18 and a beta of -6.52.

Bright Minds Biosciences (NASDAQ:DRUG) last released its quarterly earnings data on Monday, December 30th. The company reported ($0.12) earnings per share for the quarter. Sell-side analysts anticipate that Bright Minds Biosciences will post -1.6 earnings per share for the current fiscal year.

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.