Janus Henderson Group PLC Buys Shares of 508,776 Bright Minds Biosciences Inc. (NASDAQ:DRUG)

Janus Henderson Group PLC purchased a new position in shares of Bright Minds Biosciences Inc. (NASDAQ:DRUG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 508,776 shares of the company’s stock, valued at approximately $18,392,000. Janus Henderson Group PLC owned 0.11% of Bright Minds Biosciences as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. RA Capital Management L.P. purchased a new stake in shares of Bright Minds Biosciences during the 4th quarter worth approximately $16,599,000. Vivo Capital LLC purchased a new stake in Bright Minds Biosciences during the fourth quarter worth $9,062,000. Adage Capital Partners GP L.L.C. acquired a new stake in Bright Minds Biosciences in the fourth quarter valued at $4,773,000. Walleye Capital LLC purchased a new position in shares of Bright Minds Biosciences in the fourth quarter valued at $3,717,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Bright Minds Biosciences during the 4th quarter worth $2,465,000. Hedge funds and other institutional investors own 40.52% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on DRUG shares. HC Wainwright reissued a “buy” rating and issued a $85.00 price objective on shares of Bright Minds Biosciences in a research note on Wednesday, February 19th. Piper Sandler assumed coverage on shares of Bright Minds Biosciences in a research report on Thursday, January 23rd. They issued an “overweight” rating and a $93.00 price target on the stock. Cowen initiated coverage on shares of Bright Minds Biosciences in a research note on Tuesday. They set a “buy” rating for the company. Chardan Capital assumed coverage on Bright Minds Biosciences in a report on Wednesday, May 7th. They set a “buy” rating and a $80.00 target price on the stock. Finally, Cantor Fitzgerald raised Bright Minds Biosciences to a “strong-buy” rating in a research report on Tuesday. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $83.25.

Bright Minds Biosciences Stock Up 2.1%

NASDAQ DRUG opened at $32.36 on Friday. Bright Minds Biosciences Inc. has a fifty-two week low of $0.93 and a fifty-two week high of $79.02. The stock has a market cap of $227.94 million, a price-to-earnings ratio of -190.34 and a beta of -5.32. The business has a fifty day moving average of $32.87 and a 200-day moving average of $36.92.

Bright Minds Biosciences (NASDAQ:DRUG) last released its quarterly earnings results on Wednesday, May 21st. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.09. As a group, analysts anticipate that Bright Minds Biosciences Inc. will post -1.24 EPS for the current year.

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.