Bright Minds Biosciences (NASDAQ:DRUG) Raised to Hold at Wall Street Zen

Bright Minds Biosciences (NASDAQ:DRUG) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other research firms have also recently commented on DRUG. HC Wainwright reiterated a “buy” rating and issued a $145.00 target price on shares of Bright Minds Biosciences in a research note on Wednesday, August 19th. Benchmark restated a “buy” rating on shares of Bright Minds Biosciences in a research note on Thursday. Oppenheimer cut shares of Bright Minds Biosciences to a “market perform” rating in a report on Thursday. Piper Sandler reiterated an “overweight” rating and set a $220.00 price objective (up from $190.00) on shares of Bright Minds Biosciences in a research note on Wednesday, May 20th. Finally, Zacks Research upgraded shares of Bright Minds Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $143.83.

Bright Minds Biosciences Price Performance

Shares of NASDAQ:DRUG opened at $77.42 on Friday. The business’s 50-day moving average is $72.44 and its 200 day moving average is $77.10. Bright Minds Biosciences has a 1 year low of $38.00 and a 1 year high of $123.75. The firm has a market capitalization of $753.30 million, a P/E ratio of -37.22 and a beta of -5.27.

Bright Minds Biosciences (NASDAQ:DRUG) last issued its quarterly earnings results on Monday, August 17th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.22) by $1.05. On average, analysts expect that Bright Minds Biosciences will post -2.93 EPS for the current year.

Hedge Funds Weigh In On Bright Minds Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of DRUG. Orbimed Advisors LLC purchased a new position in Bright Minds Biosciences in the 1st quarter worth approximately $2,919,000. Janus Henderson Group PLC boosted its holdings in shares of Bright Minds Biosciences by 11.1% during the 1st quarter. Janus Henderson Group PLC now owns 1,284,324 shares of the company’s stock worth $93,518,000 after purchasing an additional 128,329 shares during the last quarter. Vivo Capital LLC grew its position in shares of Bright Minds Biosciences by 11.1% in the first quarter. Vivo Capital LLC now owns 557,172 shares of the company’s stock valued at $40,657,000 after purchasing an additional 55,555 shares in the last quarter. ADAR1 Capital Management LLC grew its position in shares of Bright Minds Biosciences by 868.6% in the first quarter. ADAR1 Capital Management LLC now owns 33,900 shares of the company’s stock valued at $2,474,000 after purchasing an additional 30,400 shares in the last quarter. Finally, Walleye Capital LLC increased its holdings in shares of Bright Minds Biosciences by 108.0% in the first quarter. Walleye Capital LLC now owns 53,706 shares of the company’s stock valued at $3,919,000 after purchasing an additional 27,880 shares during the last quarter. 40.52% of the stock is currently owned by institutional investors and hedge funds.

Bright Minds Biosciences News Roundup

Here are the key news stories impacting Bright Minds Biosciences this week:

• Positive Sentiment: HC Wainwright raised its EPS forecasts for fiscal 2026 and each quarter of fiscal 2027. The firm now projects a fiscal 2026 loss of $3.15 per share, compared with its prior estimate of a $5.92 loss, and a fiscal 2027 loss of $5.83 per share versus a previous $9.07 loss. These revisions indicate expectations for slower losses and improving financial performance.
• Positive Sentiment: The analyst also improved its fiscal 2028 and fiscal 2029 forecasts, narrowing projected losses to $5.04 and $2.79 per share, respectively, from $7.93 and $4.04. The model continues to forecast a return to profitability in fiscal 2030, with projected EPS of $2.41.
• Neutral Sentiment: Despite the improved outlook, Bright Minds remains unprofitable, with a current-year consensus estimate of a $3.85-per-share loss. The company’s valuation therefore remains highly dependent on the progress and commercial potential of its drug-development pipeline.
• Negative Sentiment: HC Wainwright reduced its fiscal 2030 EPS estimate to $2.41 from $3.09, signaling some moderation in its long-term profitability assumptions. However, the firm retained its Buy rating and $145 target.

About Bright Minds Biosciences

Bright Minds Biosciences Inc, trading on the NASDAQ under the symbol DRUG, is a clinical-stage biotechnology company focused on developing novel small-molecule therapeutics for mental health and neurodegenerative disorders. The company’s research leverages proprietary chemistry platforms to create serotonin-modulating and neuroprotective compounds derived from psychedelic-inspired structures. Bright Minds aims to address unmet needs in conditions such as major depressive disorder, post-traumatic stress disorder and Alzheimer’s disease through orally administered treatments.

The company’s lead candidate, BMB-101, is an oral 5-HT2A receptor-modulating compound in clinical development for mood and anxiety disorders.