Bright Minds Biosciences (NASDAQ:DRUG) Research Coverage Started at Robert W. Baird

Robert W. Baird assumed coverage on shares of Bright Minds Biosciences (NASDAQ:DRUG) in a research note released on Monday morning, MarketBeat.com reports. The firm issued an outperform rating and a $75.00 target price on the stock.

Bright Minds Biosciences Trading Up 2.8 %

Shares of NASDAQ:DRUG opened at $39.18 on Monday. The firm has a market capitalization of $173.57 million, a PE ratio of -57.01 and a beta of -6.62. Bright Minds Biosciences has a 1-year low of $0.93 and a 1-year high of $79.02. The business’s 50 day moving average is $27.00 and its 200-day moving average is $10.23.

Insider Activity

In related news, major shareholder Cormorant Asset Management, Lp acquired 372,591 shares of the stock in a transaction dated 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 purchase, the insider now owns 825,000 shares in the company, valued at approximately $4,562,250. This trade represents a 82.36 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate 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.