Bright Minds Biosciences (NASDAQ:DRUG) Now Covered by Piper Sandler

Piper Sandler initiated coverage on shares of Bright Minds Biosciences (NASDAQ:DRUG) in a report released on Thursday morning, MarketBeat reports. The brokerage issued an overweight rating and a $93.00 price objective on the stock.

DRUG has been the topic of several other reports. Robert W. Baird started coverage on shares of Bright Minds Biosciences in a research note on Monday, November 25th. They issued 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 on the stock. Baird R W upgraded Bright Minds Biosciences to a “strong-buy” rating in a research report on Monday, November 25th. Finally, HC Wainwright began coverage on Bright Minds Biosciences in a report on Friday, January 10th. They issued a “buy” rating and a $85.00 price target on the stock. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $84.33.

Bright Minds Biosciences Stock Down 3.2 %

Bright Minds Biosciences stock opened at $32.28 on Thursday. The firm has a market capitalization of $143.13 million, a price-to-earnings ratio of -64.56 and a beta of -6.52. The firm has a 50 day simple moving average of $38.36 and a 200 day simple moving average of $21.08. Bright Minds Biosciences has a 1-year low of $0.93 and a 1-year high of $79.02. The company has a current ratio of 11.31, a quick ratio of 11.31 and a debt-to-equity ratio of 0.01.

Bright Minds Biosciences (NASDAQ:DRUG) last posted its earnings results on Monday, December 30th. The company reported ($0.12) earnings per share for the quarter. On average, analysts predict that Bright Minds Biosciences will post -2.58 earnings per share for the current 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.