Bright Minds Biosciences (NASDAQ:DRUG) Posts Earnings Results

Bright Minds Biosciences (NASDAQ:DRUGGet 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.

Get Our Latest Report on DRUG

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

(Get Free Report)

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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Earnings History for Bright Minds Biosciences (NASDAQ:DRUG)

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