HC Wainwright Brokers Raise Earnings Estimates for DRUG

Bright Minds Biosciences Inc. (NASDAQ:DRUG) – Equities research analysts at HC Wainwright increased their Q2 2026 earnings estimates for Bright Minds Biosciences in a research note issued on Wednesday, March 4th. HC Wainwright analyst P. Trucchio now forecasts that the company will post earnings per share of ($1.20) for the quarter, up from their previous estimate of ($1.54). HC Wainwright currently has a “Buy” rating and a $145.00 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’ Q3 2026 earnings at ($1.74) EPS, Q4 2026 earnings at ($2.21) EPS, FY2026 earnings at ($6.19) EPS, Q1 2027 earnings at ($2.14) EPS, Q2 2027 earnings at ($2.35) EPS, Q3 2027 earnings at ($2.27) EPS, Q4 2027 earnings at ($2.44) EPS, FY2027 earnings at ($9.22) EPS, FY2028 earnings at ($8.12) EPS, FY2029 earnings at ($3.94) EPS and FY2030 earnings at $3.51 EPS.

Bright Minds Biosciences (NASDAQ:DRUG) last released its earnings results on Thursday, February 12th. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.98) by $0.28.

A number of other research analysts have also recently issued reports on DRUG. Wall Street Zen cut Bright Minds Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Robert W. Baird set a $126.00 target price on Bright Minds Biosciences in a research note on Friday, February 13th. Zacks Research cut Bright Minds Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. BTIG Research restated a “buy” rating and set a $147.00 price target on shares of Bright Minds Biosciences in a research report on Tuesday, February 17th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $80.00 price target on shares of Bright Minds Biosciences in a research note on Friday, January 2nd. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Bright Minds Biosciences has an average rating of “Moderate Buy” and an average target price of $124.50.

Bright Minds Biosciences Stock Down 1.2%

Bright Minds Biosciences stock opened at $76.87 on Friday. The firm has a fifty day simple moving average of $82.86 and a two-hundred day simple moving average of $67.88. Bright Minds Biosciences has a twelve month low of $23.17 and a twelve month high of $123.75. The company has a market capitalization of $747.95 million, a PE ratio of -39.83 and a beta of -6.04.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its holdings in Bright Minds Biosciences by 240.0% in the 4th quarter. Royal Bank of Canada now owns 527 shares of the company’s stock worth $40,000 after buying an additional 372 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Bright Minds Biosciences by 7.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,465 shares of the company’s stock valued at $973,000 after buying an additional 861 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Bright Minds Biosciences during the third quarter valued at approximately $58,000. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Bright Minds Biosciences during the second quarter valued at approximately $28,000. Finally, Gordian Capital Singapore Pte Ltd bought a new position in shares of Bright Minds Biosciences during the third quarter valued at approximately $73,000. Institutional investors own 40.52% of the company’s stock.

Key Headlines Impacting Bright Minds Biosciences

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

• Positive Sentiment: HC Wainwright retained a “Buy” rating and a $145 price target and raised long‑range upside — notably lifting FY2030 EPS to $3.51 (from $2.24) — which supports a bullish longer‑term view. Read More.
• Positive Sentiment: Some near‑term estimates were improved: HC Wainwright raised FY2026 forecast (less negative: -$6.19 vs -$6.94 prior) and increased Q2 2026 and Q3 2026 estimates, signaling partially better-than-expected operational pacing in the coming quarters. Read More.
• Neutral Sentiment: Reported short‑interest data in the filings shows zero shares short (with anomalous NaN changes), an unclear data point that neither confirms meaningful short pressure nor provides actionable insight. Read More.
• Negative Sentiment: HC Wainwright cut several near‑term and medium‑term forecasts — including FY2027 (to -$9.22 from -$8.75) and FY2029 (to -$3.94) and trimmed multiple 2027 quarterly EPS estimates — indicating larger expected losses before the company reaches profitability and pressuring the stock in the short term. Read More.
• Negative Sentiment: Overall the note is mixed but leans toward deeper near‑term losses despite long‑term upside; investors focused on short‑term cash burn and milestone timing likely sold shares in response. Read More.

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.