Bright Minds Biosciences (NASDAQ:DRUG) Releases Quarterly Earnings Results

Bright Minds Biosciences (NASDAQ:DRUG) released its quarterly earnings results on Monday. The company reported ($0.12) EPS for the quarter, Zacks reports.

Bright Minds Biosciences Stock Down 2.3 %

DRUG opened at $36.02 on Wednesday. The stock has a market cap of $159.71 million, a P/E ratio of -52.97 and a beta of -7.06. Bright Minds Biosciences has a 12 month low of $0.93 and a 12 month high of $79.02. The company has a fifty day simple moving average of $41.71 and a 200 day simple moving average of $17.00.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Baird R W raised shares of Bright Minds Biosciences to a “strong-buy” rating in a research note on Monday, November 25th. Robert W. Baird assumed coverage on Bright Minds Biosciences in a research report on Monday, November 25th. They issued an “outperform” rating and a $75.00 price objective on the stock.

Insider Transactions at Bright Minds Biosciences

In related news, major shareholder Cormorant Asset Management, Lp bought 372,591 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were acquired at an average price of $5.53 per share, for a total transaction of $2,060,428.23. Following the completion of the acquisition, the insider now owns 825,000 shares of the company’s stock, valued at approximately $4,562,250. The trade was a 82.36 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 42.66% of the stock is currently owned by insiders.

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.