Bright Minds Biosciences (NASDAQ:DRUG) Trading 4.2% Higher – Here’s What Happened

Bright Minds Biosciences Inc. (NASDAQ:DRUG)’s share price rose 4.2% during trading on Wednesday . The company traded as high as $78.40 and last traded at $79.0010. Approximately 43,697 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 82,167 shares. The stock had previously closed at $75.85.

Key Headlines Impacting Bright Minds Biosciences

Here are the key news stories impacting Bright Minds Biosciences this week:

• Positive Sentiment: HC Wainwright reiterated a “Buy” and a $115 price target, a bullish endorsement that likely supported the stock’s upward move. HC Wainwright Reiterates “Buy”
• Positive Sentiment: The firm raised its FY2030 EPS forecast sharply to $2.24 (from $0.59), signaling HC Wainwright’s view that Bright Minds can become profitable long term — a clear positive for growth investors focused on eventual commercialization. MarketBeat DRUG
• Neutral Sentiment: HC Wainwright published a full multi‑year forecast (Q1 2026–FY2030) with mixed changes — useful for modeling but reflecting both upside and downside scenarios that investors should parse against pipeline/cash assumptions. MarketBeat DRUG
• Negative Sentiment: The analyst trimmed multiple near‑term EPS estimates (Q1–Q4 2026 and FY2026–FY2029), for example Q1 2026 to ($1.12) from ($0.97), Q2 2026 to ($1.54) from ($1.28), Q3 2026 to ($1.91) from ($1.56), Q4 2026 to ($2.24) from ($1.81) and FY2026 to ($6.94) from ($5.69) — indicating expected higher spending or slower revenue ramp that raises short‑term risk. MarketBeat DRUG

Analysts Set New Price Targets

A number of equities research analysts have commented on DRUG shares. Zacks Research cut Bright Minds Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. BTIG Research began coverage on shares of Bright Minds Biosciences in a research report on Monday, September 8th. They issued a “buy” rating and a $72.00 price target for the company. Wall Street Zen upgraded shares of Bright Minds Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Chardan Capital upgraded shares of Bright Minds Biosciences to a “strong-buy” rating in a report on Wednesday, November 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bright Minds Biosciences in a research note on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $90.00.

Bright Minds Biosciences Price Performance

The company has a fifty day moving average of $69.39 and a 200-day moving average of $51.08. The firm has a market cap of $607.93 million, a P/E ratio of -63.97 and a beta of -6.14.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Braidwell LP bought a new stake in Bright Minds Biosciences in the 3rd quarter worth about $18,422,000. Vivo Capital LLC boosted its stake in shares of Bright Minds Biosciences by 99.4% in the 3rd quarter. Vivo Capital LLC now owns 501,617 shares of the company’s stock worth $30,428,000 after buying an additional 250,045 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in Bright Minds Biosciences during the third quarter worth $11,339,000. Millennium Management LLC boosted its position in Bright Minds Biosciences by 376.9% in the first quarter. Millennium Management LLC now owns 192,557 shares of the company’s stock worth $6,946,000 after purchasing an additional 152,178 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its position in Bright Minds Biosciences by 50.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 200,000 shares of the company’s stock worth $7,214,000 after purchasing an additional 67,500 shares during the last quarter. 40.52% of the stock is currently owned by hedge funds and other institutional investors.

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.