Bright Minds Price Target Falls to $126, BMB-101 Cuts Seizures Over 60%
Baird cut Bright Minds’ price target to $126 from $142 and maintained Outperform rating after adjusting forecasts for upcoming epilepsy and Prader-Willi syndrome trials. Phase 2 BREAKTHROUGH results showed BMB-101 cuts motor seizures by 63.3% in DEE, absence seizures 73.1% and boosts REM sleep 90%, achieving good safety.
1. Price Target Adjustment
Baird lowered its price target for Bright Minds to $126 from $142 while maintaining an Outperform rating. The revision reflects updated forecasts after the company’s fourth-quarter results and model adjustments ahead of upcoming epilepsy and Prader-Willi syndrome trial initiations.
2. Epilepsy Trial Breakthrough Data
In its Phase 2 BREAKTHROUGH trial, Bright Minds’ BMB-101 achieved a 63.3% median reduction in severe motor seizures among patients with developmental and encephalopathic epilepsies, meeting major effectiveness endpoints and preserving a favorable safety profile.
3. Absence Seizure and Sleep Profile
The trial also reported a 73.1% median decrease in drug-resistant absence seizures and a 90% increase in REM sleep duration, suggesting potential cognitive benefits without impacting overall sleep length.
4. Future Clinical Milestones
Bright Minds is preparing to initiate additional trials in epilepsy and Prader-Willi syndrome, advancing its pipeline of selective 5-HT2C biased agonists for neuropsychiatric disorders including treatment-resistant depression and PTSD.