5 Best Psychedelic Stocks to Buy in 2026

4. Compass Pathways PLC (NASDAQ:CMPS)

Number of Hedge Fund Holders: 35

Average Upside Potential: 250.08%

Compass Pathways PLC (NASDAQ:CMPS) is among the best psychedelic stocks to buy in 2026. Its flagship psychedelic drug candidate COMP360 is aimed at treating patients with depression. COMP360 uses a type of psychedelic substance called psilocybin, and it’s in the final stages of studies.

On March 3, Compass Pathways PLC (NASDAQ:CMPS) representatives attended TD Cowen’s 46th Annual Healthcare Conference in Boston, MA. They used the conference to highlight promising results from a pair of Phase 3 trials of COMP360, drilling down into the data to explain how the studies met primary endpoints in efficacy and safety.

The FDA granted COMP360 a breakthrough therapy designation. This accelerates filing timelines by 12 to 15 months. Compass Pathways has requested a review meeting with the FDA regarding COMP360 study data. In February, the company said it expected to complete an NDA submission for COMP360 in Q4 2026.

Compass Pathways is initially targeting the treatment-resistant depression market with COMP360. But the company is also exploring the compound as a therapy for post-traumatic stress disorder (PTSD).

Compass Pathways PLC (NASDAQ:CMPS) is a biotechnology company headquartered in London, UK. The company is focused on developing psychedelic treatments for mental health issues. Its flagship drug candidate COMP360 is being developed as a solution for treatment-resistant depression as well as post-traumatic stress disorder.