Bright Minds Biosciences (NASDAQ:DRUG) Raised to “Strong-Buy” at Baird R W

Posted by Dante Gardener on Nov 27th, 2024

Bright Minds Biosciences (NASDAQ:DRUG – Get Free Report) was upgraded by analysts at Baird R W to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Separately, Robert W. Baird started coverage on shares of Bright Minds Biosciences in a research note on Monday. They set an “outperform” rating and a $75.00 target price for the company.

View Our Latest Stock Analysis on DRUG

Bright Minds Biosciences Price Performance

DRUG stock opened at $38.11 on Monday. Bright Minds Biosciences has a 12 month low of $0.93 and a 12 month high of $79.02. The firm has a market cap of $168.83 million, a PE ratio of -56.04 and a beta of -6.62. The firm has a 50 day simple moving average of $26.26 and a 200 day simple moving average of $9.97.

Insider Activity at Bright Minds Biosciences

In other news, major shareholder Cormorant Asset Management, Lp purchased 372,591 shares of Bright Minds Biosciences stock in a transaction that occurred on Tuesday, October 15th. The stock was acquired at an average price of $5.53 per share, for a total transaction of $2,060,428.23. Following the transaction, the insider now owns 825,000 shares in the company, valued at $4,562,250. The trade was a 82.36 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 42.66% of the stock is owned by insiders.

About Bright Minds Biosciences

(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.