Bright Minds Biosciences: Robust BMB-101 Phase 2 Data and Clear Registrational Path Underpin $115 Target and Buy Rating

Analyst Patrick Trucchio from H.C. Wainwright reiterated a Buy rating on Bright Minds Biosciences and keeping the price target at $115.00.

Patrick Trucchio has given his Buy rating due to a combination of factors related to both clinical data and strategic positioning. He highlights that the Phase 2 BREAKTHROUGH trial of BMB-101 in adults with drug-resistant absence seizures and developmental and epileptic encephalopathies produced robust, clinically meaningful reductions in seizure frequency and burden, even in a highly refractory patient population. Trucchio notes that the therapy showed a favorable safety and tolerability profile, with no drug-related serious adverse events and characteristics that support chronic use. He also underscores the objective, 24-hour EEG-based efficacy readouts, the breadth of response across multiple seizure types, and signals such as improved REM sleep that may translate into broader quality-of-life benefits.

Trucchio further bases his Buy rating on the company’s clear regulatory and development path, including plans to move BMB-101 into global Phase 2/3 registrational trials for both absence seizures and DEE, using trial designs that build directly on the successful Phase 2 framework. He draws attention to the practical aspects of BMB-101, such as convenient dosing, favorable pharmacokinetics, and room-temperature stability, which support real-world adoption if approved. In addition, he sees upside from Bright Minds’ broader pipeline, including the planned Prader-Willi syndrome Phase 2a study and next-generation 5-HT2C and 5-HT2A programs, which provide multiple future revenue opportunities. Based on a DCF and sum-of-the-parts valuation incorporating high probabilities of success for BMB-101 in DEE and a meaningful probability in absence epilepsy, he arrives at a firm value that supports his $115 price target and Buy recommendation, while acknowledging standard clinical, regulatory, financing, and commercialization risks.

Trucchio covers the Healthcare sector, focusing on stocks such as Precision BioSciences, Vir Biotechnology, and Aligos Therapeutics. According to TipRanks, Trucchio has an average return of 32.1% and a 52.65% success rate on recommended stocks.