Bright Minds Biosciences (NASDAQ:DRUG) Announces Earnings Results, Beats Estimates By $0.24 EPS

Bright Minds Biosciences (NASDAQ:DRUG) issued its quarterly earnings data on Thursday. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.23) by $0.24, Zacks reports.

Bright Minds Biosciences Stock Up 1.2 %

Bright Minds Biosciences stock traded up $0.54 during mid-day trading on Thursday, hitting $45.72. The company had a trading volume of 41,970 shares, compared to its average volume of 84,882. Bright Minds Biosciences has a 12 month low of $0.93 and a 12 month high of $79.02. The company has a market capitalization of $202.54 million, a PE ratio of -91.44 and a beta of -6.71. The stock’s 50 day moving average price is $37.89 and its two-hundred day moving average price is $24.78. The company has a current ratio of 11.31, a quick ratio of 11.31 and a debt-to-equity ratio of 0.01.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Piper Sandler started coverage on Bright Minds Biosciences in a research report on Thursday, January 23rd. They issued an “overweight” rating and a $93.00 target price for the company. HC Wainwright initiated coverage on Bright Minds Biosciences in a report on Friday, January 10th. They issued a “buy” rating and a $85.00 price objective for the company. Baird R W raised Bright Minds Biosciences to a “strong-buy” rating in a research report on Monday, November 25th. Robert W. Baird initiated coverage on shares of Bright Minds Biosciences in a research report on Monday, November 25th. They issued an “outperform” rating and a $75.00 target price on the stock. Finally, Cantor Fitzgerald began coverage on shares of Bright Minds Biosciences in a research report on Friday, January 10th. They set an “overweight” rating for the company. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $84.33.

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.