Bright Minds initiated with a Buy at BTIG

BTIG initiated coverage of Bright Minds (DRUG) with a Buy rating and $72 price target The company is developing a “very specific” 5-HT2C agonist, BMB-101, for epilepsies that has better dosing than bexicaserin, the analyst tells investors in a research note. The firm believes the dosing advantage is relevant given data suggesting the side effects of the 5-HT2C class may be peak concentration-dependent. The relatively high percentage of absence seizures in otherwise healthy children suggests convenient dosing and low side effects “are a major positive,” contends BTIG. It expects Phase 2 data from Bright Minds around year-end 2025.