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Investing.com - H.C. Wainwright reiterated a Buy rating and $85.00 price target on Bright Minds Biosciences Inc. (NASDAQ:DRUG) as the company approaches a key catalyst in the second half of 2025. According to InvestingPro data, the stock has shown remarkable momentum, delivering over 4,000% return in the past year, with analysts maintaining a strong buy consensus and a price target of $93.55.
The firm cited the upcoming top-line data from the Phase 2 BREAKTHROUGH trial evaluating BMB-101 in absence epilepsy and developmental and epileptic encephalopathies (DEE) as a significant milestone for the company.
BMB-101 is described as a first-in-class, G-protein biased 5-HT2C agonist designed to sustain efficacy by avoiding beta-arrestin recruitment, potentially overcoming tolerance issues that limit current serotonergic treatments.
The open-label trial is evaluating EEG-based and seizure diary endpoints across two rare, drug-resistant epilepsy populations with high unmet need and limited therapeutic options, targeting a combined refractory market opportunity estimated at $21 billion.
H.C. Wainwright noted that Bright Minds has approximately C$51 million in cash at the end of F3Q25, providing runway into 2027, which positions the company to reach and act on the upcoming data inflection point.
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