Bright Minds price target raised to $147 from $72 at BTIG

BTIG raised the firm’s price target on Bright Minds (DRUG) to $147 from $72 and keeps a Buy rating on the shares. The first readout for BMB-101 in absence seizures was very strong, showing a 73% reduction in a heavily pre-treated cohort, highlighting its potential as a salvage therapy in a large market with few well-tolerated options, the analyst tells investors in a research note. While efficacy appears impressive across lines, further evaluation of safety and data in earlier treatment lines will be key, as the company plans pivotal trials for both absence seizures and Developmental and Epileptic Encephalopathies, with promising implications for Prader-Willi Syndrome given the drug’s targeted mechanism, the firm says.