Q3 EPS Estimate for Bright Minds Biosciences Cut by Analyst

Bright Minds Biosciences Inc. (NASDAQ:DRUG) – Analysts at HC Wainwright lowered their Q3 2026 EPS estimates for shares of Bright Minds Biosciences in a research note issued on Monday, June 1st. HC Wainwright analyst P. Trucchio now expects that the company will earn ($1.81) per share for the quarter, down from their prior estimate of ($1.74). HC Wainwright currently has a “Buy” rating and a $145.00 target price on the stock. The consensus estimate for Bright Minds Biosciences’ current full-year earnings is ($4.99) per share. HC Wainwright also issued estimates for Bright Minds Biosciences’ Q4 2026 earnings at ($2.32) EPS, FY2026 earnings at ($5.92) EPS, Q1 2027 earnings at ($2.12) EPS, Q2 2027 earnings at ($2.38) EPS, Q3 2027 earnings at ($2.19) EPS, Q4 2027 earnings at ($2.35) EPS, FY2027 earnings at ($9.07) EPS, FY2028 earnings at ($7.93) EPS, FY2029 earnings at ($4.04) EPS and FY2030 earnings at $3.09 EPS.

Other equities analysts have also recently issued reports about the company. Robert W. Baird set a $126.00 target price on Bright Minds Biosciences in a report on Friday, February 13th. Jefferies Financial Group began coverage on Bright Minds Biosciences in a research note on Monday, April 13th. They issued a “buy” rating and a $145.00 price target on the stock. BTIG Research reiterated a “buy” rating and issued a $147.00 price target on shares of Bright Minds Biosciences in a research report on Monday, March 30th. Piper Sandler reiterated an “overweight” rating and set a $220.00 price objective (up from $190.00) on shares of Bright Minds Biosciences in a research note on Wednesday, May 20th. Finally, Wall Street Zen cut Bright Minds Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Bright Minds Biosciences has an average rating of “Moderate Buy” and an average price target of $143.83.

Bright Minds Biosciences Stock Down 5.2%

Shares of DRUG opened at $76.78 on Wednesday. The company has a 50-day moving average price of $82.27 and a two-hundred day moving average price of $79.96. The stock has a market cap of $747.22 million, a price-to-earnings ratio of -31.47 and a beta of -5.53. Bright Minds Biosciences has a 12 month low of $23.17 and a 12 month high of $123.75.

Bright Minds Biosciences (NASDAQ:DRUG) last posted its earnings results on Wednesday, May 20th. The company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.06.

Insider Activity at Bright Minds Biosciences

In related news, major shareholder Cormorant Asset Management, Lp sold 109,331 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $89.50, for a total transaction of $9,785,124.50. Following the sale, the insider directly owned 950,000 shares in the company, valued at $85,025,000. This represents a 10.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 42.66% of the stock is owned by insiders.

Hedge Funds Weigh In On Bright Minds Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of DRUG. Vivo Capital LLC grew its holdings in shares of Bright Minds Biosciences by 11.1% during the first quarter. Vivo Capital LLC now owns 557,172 shares of the company’s stock worth $40,657,000 after purchasing an additional 55,555 shares during the last quarter. Bank of America Corp DE grew its holdings in Bright Minds Biosciences by 28.8% during the 1st quarter. Bank of America Corp DE now owns 19,422 shares of the company’s stock worth $1,417,000 after acquiring an additional 4,347 shares during the last quarter. Janus Henderson Group PLC increased its position in Bright Minds Biosciences by 11.1% in the 1st quarter. Janus Henderson Group PLC now owns 1,284,324 shares of the company’s stock valued at $93,518,000 after acquiring an additional 128,329 shares in the last quarter. ADAR1 Capital Management LLC increased its position in Bright Minds Biosciences by 868.6% in the 1st quarter. ADAR1 Capital Management LLC now owns 33,900 shares of the company’s stock valued at $2,474,000 after acquiring an additional 30,400 shares in the last quarter. Finally, Orbimed Advisors LLC bought a new position in shares of Bright Minds Biosciences in the first quarter worth about $2,919,000. Institutional investors and hedge funds own 40.52% of the company’s stock.

Bright Minds Biosciences Company Profile

Bright Minds Biosciences Inc, trading on the NASDAQ under the symbol DRUG, is a clinical-stage biotechnology company focused on developing novel small-molecule therapeutics for mental health and neurodegenerative disorders. The company’s research leverages proprietary chemistry platforms to create serotonin-modulating and neuroprotective compounds derived from psychedelic-inspired structures. Bright Minds aims to address unmet needs in conditions such as major depressive disorder, post-traumatic stress disorder and Alzheimer’s disease through orally administered treatments.

The company’s lead candidate, BMB-101, is an oral 5-HT2A receptor-modulating compound in clinical development for mood and anxiety disorders.