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

Bright Minds Biosciences (NASDAQ:DRUG) issued its quarterly earnings results 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 Trading Up 1.2 %

DRUG stock traded up $0.54 during midday trading on Thursday, hitting $45.72. 41,970 shares of the company’s stock were exchanged, compared to its average volume of 84,882. Bright Minds Biosciences has a one year low of $0.93 and a one year high of $79.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.31 and a current ratio of 11.31. The company has a market cap of $202.72 million, a PE ratio of -91.44 and a beta of -6.71. The stock’s fifty day moving average price is $37.89 and its 200-day moving average price is $24.78.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DRUG. Baird R W raised shares of Bright Minds Biosciences to a “strong-buy” rating in a research note on Monday, November 25th. Piper Sandler assumed coverage on Bright Minds Biosciences in a research note on Thursday, January 23rd. They set an “overweight” rating and a $93.00 price objective for the company. HC Wainwright initiated coverage on Bright Minds Biosciences in a research note on Friday, January 10th. They issued a “buy” rating and a $85.00 target price on the stock. Cantor Fitzgerald assumed coverage on Bright Minds Biosciences in a report on Friday, January 10th. They set an “overweight” rating on the stock. Finally, Robert W. Baird assumed coverage on Bright Minds Biosciences in a research note on Monday, November 25th. They issued an “outperform” rating and a $75.00 price target for the company. 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 data from MarketBeat.com, the stock presently has an average 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.