HC Wainwright Has Negative Outlook for DRUG Q1 Earnings

Bright Minds Biosciences Inc. (NASDAQ:DRUG) – Research analysts at HC Wainwright decreased their Q1 2026 EPS estimates for Bright Minds Biosciences in a research note issued on Tuesday, December 30th. HC Wainwright analyst P. Trucchio now anticipates that the company will post earnings per share of ($1.12) for the quarter, down from their previous estimate of ($0.97). HC Wainwright currently has a “Buy” rating and a $115.00 price objective on the stock. The consensus estimate for Bright Minds Biosciences’ current full-year earnings is ($1.24) per share. HC Wainwright also issued estimates for Bright Minds Biosciences’ Q2 2026 earnings at ($1.54) EPS, Q3 2026 earnings at ($1.91) EPS, Q4 2026 earnings at ($2.24) EPS, FY2026 earnings at ($6.94) EPS, Q1 2027 earnings at ($2.03) EPS, Q2 2027 earnings at ($2.22) EPS, Q3 2027 earnings at ($2.14) EPS, Q4 2027 earnings at ($2.33) EPS, FY2027 earnings at ($8.75) EPS, FY2028 earnings at ($9.84) EPS, FY2029 earnings at ($3.26) EPS and FY2030 earnings at $2.24 EPS.

Several other analysts also recently weighed in on the company. Zacks Research downgraded Bright Minds Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Chardan Capital raised Bright Minds Biosciences to a “strong-buy” rating in a research note on Wednesday, November 19th. Cantor Fitzgerald restated an “overweight” rating on shares of Bright Minds Biosciences in a research note on Monday, December 1st. Wall Street Zen raised shares of Bright Minds Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Finally, 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 target price for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Bright Minds Biosciences currently has an average rating of “Buy” and a consensus price target of $90.00.

Bright Minds Biosciences Trading Up 2.9%

Shares of NASDAQ DRUG opened at $78.04 on Thursday. Bright Minds Biosciences has a 12-month low of $23.17 and a 12-month high of $97.75. The company has a market cap of $607.93 million, a PE ratio of -63.97 and a beta of -6.14. The stock has a 50 day simple moving average of $69.39 and a 200-day simple moving average of $51.08.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DRUG. JPMorgan Chase & Co. grew its holdings in Bright Minds Biosciences by 142.3% during the third quarter. JPMorgan Chase & Co. now owns 5,265 shares of the company’s stock worth $319,000 after acquiring an additional 3,092 shares during the period. Vivo Capital LLC boosted its position in shares of Bright Minds Biosciences by 99.4% during the 3rd quarter. Vivo Capital LLC now owns 501,617 shares of the company’s stock valued at $30,428,000 after purchasing an additional 250,045 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of Bright Minds Biosciences during the 3rd quarter valued at about $393,000. Bank of America Corp DE grew its stake in shares of Bright Minds Biosciences by 48.6% in the 3rd quarter. Bank of America Corp DE now owns 7,037 shares of the company’s stock worth $427,000 after purchasing an additional 2,303 shares during the last quarter. Finally, Boothbay Fund Management LLC grew its stake in shares of Bright Minds Biosciences by 46.7% in the 3rd quarter. Boothbay Fund Management LLC now owns 28,119 shares of the company’s stock worth $1,706,000 after purchasing an additional 8,955 shares during the last quarter. Institutional investors own 40.52% of the company’s stock.

Bright Minds Biosciences News Roundup

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

About Bright Minds Biosciences

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.