Bright Minds Biosciences (NASDAQ:DRUG) Cut to "Sell" at Wall Street Zen

Bright Minds Biosciences (NASDAQ:DRUG - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.Biotechs on the Brink: 2 Stocks With Huge PotentialSeveral other equities research analysts have also issued reports on DRUG. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Bright Minds Biosciences in a research note on Monday, December 1st. BTIG Research increased their price target on Bright Minds Biosciences from $72.00 to $147.00 and gave the company a "buy" rating in a report on Tuesday. Chardan Capital reaffirmed a "buy" rating and set a $80.00 price objective on shares of Bright Minds Biosciences in a research note on Friday, January 2nd. HC Wainwright reiterated a "buy" rating and set a $115.00 price objective on shares of Bright Minds Biosciences in a research report on Tuesday, December 30th. Finally, Robert W. Baird set a $142.00 target price on shares of Bright Minds Biosciences in a report on Wednesday. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Bright Minds Biosciences currently has a consensus rating of "Moderate Buy" and an average target price of $115.40.Check Out Our Latest Analysis on Bright Minds BiosciencesBright Minds Biosciences Trading Down 3.6%Bright Minds Biosciences Stock Surges Almost 1,500%DRUG opened at $86.75 on Friday. The firm has a market cap of $675.78 million, a P/E ratio of -71.11 and a beta of -6.15. Bright Minds Biosciences has a 12 month low of $23.17 and a 12 month high of $123.75. The stock has a 50-day moving average of $73.17 and a 200 day moving average of $53.59. Institutional Inflows and OutflowsA number of hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. bought a new stake in Bright Minds Biosciences during the 1st quarter valued at about $802,000. Sio Capital Management LLC grew its stake in Bright Minds Biosciences by 0.9% in the 2nd quarter. Sio Capital Management LLC now owns 512,338 shares of the company's stock worth $13,377,000 after acquiring an additional 4,776 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Bright Minds Biosciences during the second quarter worth approximately $28,000. AdvisorShares Investments LLC increased its position in shares of Bright Minds Biosciences by 28.4% during the second quarter. AdvisorShares Investments LLC now owns 14,481 shares of the company's stock worth $378,000 after acquiring an additional 3,200 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Bright Minds Biosciences by 142.3% during the third quarter. JPMorgan Chase & Co. now owns 5,265 shares of the company's stock valued at $319,000 after acquiring an additional 3,092 shares in the last quarter. 40.52% of the stock is currently owned by institutional investors. Bright Minds Biosciences Company Profile (Get Free Report)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.Further ReadingFive stocks we like better than Bright Minds BiosciencesWall Street Stockpicker Names #1 Stock of 2026A U.S. “birthright” claim worth trillions - activated quietlyDo not delete, read immediatelyHow a Family Trust May Be Able To Help Preserve Your WealthMarket Panic: Trump Just Dropped a Bomb on Your StocksThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. 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