Bright Minds Biosciences (NASDAQ:DRUG) Upgraded at Baird R W

Bright Minds Biosciences (NASDAQ:DRUG) was upgraded by analysts at Baird R W to a “strong-buy” rating in a research report issued to clients and investors 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 price target on the stock.

Bright Minds Biosciences Stock Performance

Bright Minds Biosciences stock opened at $38.11 on Monday. The firm has a market cap of $168.83 million, a PE ratio of -56.04 and a beta of -6.62. The firm’s 50 day moving average price is $26.26 and its two-hundred day moving average price is $9.97. Bright Minds Biosciences has a twelve month low of $0.93 and a twelve month high of $79.02.

Insider Transactions at Bright Minds Biosciences

In other Bright Minds Biosciences news, major shareholder Cormorant Asset Management, Lp purchased 372,591 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were bought at an average price 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 in the company, valued at $4,562,250. This trade represents a 82.36 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 42.66% of the stock is currently owned by company insiders.

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.