Baird initiated coverage of Bright Minds Biosciences (DRUG) with an Outperform rating and $75 price target. Lead agent BMB-101 is entering Phase 2 development for the treatment of Developmental Epileptic Encephalopathy, or DEE, and Absence Epilepsy, notes the analyst, who views the recently announced acquisition of Longboard Pharmaceuticals (LBPH) for an enterprise value of $2.5B as having “favorable readthrough” for Bright Minds as the firm believes BMB-101 has the potential to have a relatively similar profile to bexicaserin.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DRUG:
- Bright Minds Biosciences to Present Novel Epilepsy Data
- Bright Minds Biosciences participates in a conference call with Truist
- Bright Minds Biosciences Secures $35 Million Investment
- Bright Minds Biosciences (DRUG) Partners with Firefly Neuroscience, Resulting in Stock Surge
- Bright Minds and Firefly Neuroscience Renew Collaboration