Bright Minds Biosciences (NASDAQ:DRUG – Get Free Report) posted its earnings results on Monday. The company reported ($0.12) earnings per share for the quarter, Zacks reports.
Bright Minds Biosciences Trading Down 2.3 %
DRUG opened at $36.02 on Wednesday. Bright Minds Biosciences has a twelve month low of $0.93 and a twelve month high of $79.02. The firm has a market cap of $159.71 million, a price-to-earnings ratio of -52.97 and a beta of -7.06. The company has a fifty day simple moving average of $41.71 and a 200 day simple moving average of $17.00.
Wall Street Analyst Weigh In
DRUG has been the topic of a number of recent research reports. Baird R W upgraded Bright Minds Biosciences to a “strong-buy” rating in a research note on Monday, November 25th. Robert W. Baird began coverage on Bright Minds Biosciences in a report on Monday, November 25th. They set an “outperform” rating and a $75.00 target price on the stock.
Insiders Place Their Bets
In related news, major shareholder Cormorant Asset Management, Lp acquired 372,591 shares of Bright Minds Biosciences stock in a transaction on Tuesday, October 15th. The shares were purchased at an average cost of $5.53 per share, for a total transaction of $2,060,428.23. Following the purchase, the insider now directly owns 825,000 shares of the company’s stock, valued at $4,562,250. The trade was a 82.36 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 42.66% of the stock is currently owned by company insiders.
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.
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