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

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

Bright Minds Biosciences Price Performance

Bright Minds Biosciences stock opened at $41.80 on Friday. The firm’s 50-day moving average is $38.08 and its 200-day moving average is $25.21. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.31 and a current ratio of 11.31. Bright Minds Biosciences has a 1 year low of $0.93 and a 1 year high of $79.02.

Analyst Ratings Changes

DRUG has been the subject of several recent analyst reports. HC Wainwright initiated coverage on shares of Bright Minds Biosciences in a report on Friday, January 10th. They set a “buy” rating and a $85.00 price objective for the company. Cantor Fitzgerald initiated coverage on shares of Bright Minds Biosciences in a report on Friday, January 10th. They set an “overweight” rating for the company. Piper Sandler initiated coverage on shares of Bright Minds Biosciences in a report on Thursday, January 23rd. They set an “overweight” rating and a $93.00 price objective for the company. Robert W. Baird initiated coverage on shares of Bright Minds Biosciences in a report on Monday, November 25th. They set an “outperform” rating and a $75.00 price objective 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 investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Bright Minds Biosciences currently has a consensus rating of “Buy” and an average price target 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.