5 Best Psychedelic Stocks to Buy in 2026

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1. NRX Pharmaceuticals Inc (NASDAQ:NRXP)

Number of Hedge Fund Holders: 2

Average Upside Potential: 1773.02%

NRX Pharmaceuticals Inc (NASDAQ:NRXP) is among the best psychedelic stocks to buy in 2026. NRX Pharmaceuticals Inc (NASDAQ:NRXP)’s drug candidates NRX-101 and NRX-100 are being developed as a treatment for suicidal depression and other brain health disorders. The NRX-100, in particular, is a preservative-free formulation of a compound known as ketamine, which has hallucinogenic effects.

On March 17, NRX Pharmaceuticals Inc (NASDAQ:NRXP) announced that the FDA had told it that it did not find any bioequivalence deficiencies in its preservative-free ketamine product. According to the company, this FDA determination is essential for an Abbreviated New Drug Application (ANDA) approval, which is about generic drugs. NRX Pharmaceuticals has filed an ANDA for NRX-100, and it’s expecting an FDA decision on that application in Summer 2026.

In other news, NRX Pharmaceuticals announced on March 16 that the FDA has confirmed its willingness to review the company’s New Drug Application (NDA) for NRX-100. It said the agency did not request additional clinical trials. In light of this, NRX Pharmaceuticals intends to submit its NDA for NRX-100 to the FDA by June 2026.

NRX Pharmaceuticals Inc (NASDAQ:NRXP) is an American clinical-stage bio-pharmaceutical company based in Delaware. It develops treatments for central nervous system disorders, such as suicidal depression, post-traumatic stress disorder, and chronic pain. The company’s drug candidates are NRX-101 for suicidal treatment-resistant bipolar depression and NRX-100 for the treatment of suicidal depression.

While we acknowledge the potential of NRXP to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NRXP and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

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