In a report released today, Patrick Trucchio from H.C. Wainwright reiterated a Buy rating on Bright Minds Biosciences (DRUG – Research Report), with a price target of $85.00.
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Patrick Trucchio has given his Buy rating due to a combination of factors that highlight the potential of Bright Minds Biosciences’ lead candidate, BMB-101. The company’s recent virtual R&D event showcased BMB-101’s unique mechanism and promising preclinical and Phase 1 results, which suggest a strong therapeutic profile. The ongoing Phase 2 BREAKTHROUGH program, expected to deliver results in the second half of 2025, targets a significant unmet need in the treatment-resistant epilepsy market, particularly in absence epilepsy and developmental and epileptic encephalopathies (DEEs).
Trucchio emphasizes the innovative approach of BMB-101, which includes the use of EEG-based endpoints and the positive preclinical data that demonstrated complete elimination of drop attacks in SUDEP-prone syndromes. The absence of serious adverse events and a solid financial position further bolster confidence in the company’s ability to execute its strategy. The BREAKTHROUGH trial’s design, which addresses both absence epilepsy and DEEs, positions BMB-101 as a potentially first- and best-in-class therapy, enhancing its appeal in the neurology space.
According to TipRanks, Trucchio is an analyst with an average return of -2.0% and a 34.85% success rate. Trucchio covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, uniQure, and Precision BioSciences.
In another report released yesterday, Chardan Capital also reiterated a Buy rating on the stock with a $80.00 price target.