Bright Minds Biosciences (NASDAQ:DRUG) Now Covered by Analysts at Robert W. Baird

Equities researchers at Robert W. Baird assumed coverage on shares of Bright Minds Biosciences (NASDAQ:DRUG) in a report issued on Monday,Benzinga reports. The firm set an “outperform” rating and a $75.00 price target on the stock. Robert W. Baird’s target price suggests a potential upside of 94.81% from the stock’s previous close.

Bright Minds Biosciences Trading Up 9.0 %

Shares of DRUG stock traded up $3.17 during trading on Monday, hitting $38.50. The company’s stock had a trading volume of 146,866 shares, compared to its average volume of 880,129. The business has a fifty day moving average of $25.52 and a 200-day moving average of $9.70. Bright Minds Biosciences has a 52 week low of $0.93 and a 52 week high of $79.02. The company has a market cap of $170.56 million, a PE ratio of -56.62 and a beta of -6.62.

Insider Buying and Selling at Bright Minds Biosciences

In other Bright Minds Biosciences news, major shareholder Cormorant Asset Management, Lp purchased 372,591 shares of the stock in a transaction on Tuesday, October 15th. The stock was acquired at an average cost of $5.53 per share, with a total value of $2,060,428.23. Following the completion of the purchase, the insider now directly owns 825,000 shares of the company’s stock, valued at approximately $4,562,250. This trade represents a 82.36 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 42.66% of the company’s stock.

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.