In this article we will list the 5 Best Psychedelic Stocks to Buy in 2026. Please visit 9 Best Psychedelic Stocks to Buy in 2026 if you’d like see an extended list and how we came up with the list of best value stocks.
5. GH Research PLC (NASDAQ:GHRS)
Number of Hedge Fund Holders: 16
Average Upside Potential: 173.26%
GH Research PLC (NASDAQ:GHRS) is among the best psychedelic stocks to buy in 2026.
The company is advancing efforts to develop psychedelic medicines targeting conditions like depression, bipolar II disorder, and other psychiatric and neurological disorders. Its flagship drug candidate GH001 is aimed at patients with treatment-resistant depression as well as those with bipolar II disorder and postpartum depression.
On March 10, Guggenheim boosted its price target on GH Research PLC (NASDAQ:GHRS) to $34 from $29 while reiterating a Buy rating on the stock. The equity research firm pointed to GH Research’s 2025 financial results and clinical progress updates for its renewed bullish view on this psychedelic stock.
GH Research PLC (NASDAQ:GHRS) reported its 2025 financial results and provided business updates on March 5. Regarding financials, the company said it spent $38.8 million on R&D and $22.0 million on general and administrative expenses in 2025. It finished the year with $280.7 million in cash, cash equivalents, and marketable securities.
Concerning business updates, GH Research PLC said it completed Phase 2b trial of GH001 in patients with treatment-resistant depression (TRD), saying that the trial met its primary endpoint. With that done, the company said it was moving to a global Phase 3 study of GH001, and that it was seeking FDA alignment on the design of that study.
Regarding its other drug candidate, GH002, the company said it had completed a Phase 1 study in healthy volunteers.
Based in Dublin, Ireland, GH Research PLC (NASDAQ:GHRS) is a clinical-stage biopharmaceutical company. The company has focused on developing treatments for psychiatric and neurological conditions. Its lead drug candidate is GH001, an inhalable medicine currently in clinical trials for the treatment of severe depression and bipolar II disorder.
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.
3. AtaiBeckley Inc (NASDAQ:ATAI)
Number of Hedge Fund Holders: 23
Average Upside Potential: 292.60%
AtaiBeckley Inc (NASDAQ:ATAI) is among the best psychedelic stocks to buy in 2026. On March 17, AtaiBeckley Inc (NASDAQ:ATAI) announced the publication in the Journal of Psychopharmacology of the Phase 2a study results for its flagship psychedelic drug candidate BPL-003. AtaiBeckley is developing BPL-003, which comes in the form of a nasal spray, as a treatment for treatment-resistant depression.
In that study, BPL-003 was evaluated in patients with moderate-to-severe treatment-resistant depression who were not on antidepressants. The study turned positive results on safety and efficacy.
With that, BPL-003 is advancing to Phase 3 trials. AtaiBeckley announced on March 10 that it plans to launch two parallel Phase 3 studies of BPL-003 in Q2 2026. The Phase 3 trials announcement followed a meeting with the FDA, with the company saying that the regulator indicated support for the Phase 3 program and provided constructive feedback.
On March 7, Bloomberg reported that AtaiBeckley was seeking a deal for BPL-003, which could be a sale or partnership. An outright sale of BPL-003 could fetch more than $2 billion for the company, while a partnership would involve sharing responsibilities and profit, according to the report.
New York-headquartered AtaiBeckley Inc (NASDAQ:ATAI) a clinical-stage biopharmaceutical company focused on developing mental health treatments. The company has multiple drug candidates in the pipeline, including BPL-003, which is aimed at people with treatment-resistant depression.
2. Cybin Inc (NASDAQ:HELP)
Number of Hedge Fund Holders: 19
Average Upside Potential: 919.19%
Cybin Inc (NASDAQ:HELP) is among the best psychedelic stocks to buy in 2026. Toronto, Canada-based Cybin Inc. is also known as Helus Pharma. The company has multiple psychedelic drug candidates at various stages, including potential treatments for depression and anxiety disorders.
On March 5, Cybin Inc (NASDAQ:HELP) reported topline results from a Phase 2 study of its drug candidate HLP004, which targets patients with generalized anxiety disorder (GAD). That study enrolled three dozen patients who were already on antidepressant therapy but remained symptomatic.
According to the company, HLP004 reduced anxiety symptoms by 10 points on a rating scale. This improvement was above what was already being seen from antidepressant therapy. Moreover, HLP004 was well-tolerated. The benefits of HLP004 were sustained through at least six months, the company said.
Helus Pharma’s other drug candidate, HLP003, is in Phase 3 study for treating major depressive disorder. The company looks to release data on the HLP003 study in Q4 2026.
Cybin Inc (NASDAQ:HELP), also called Helus Pharma, is a Canadian clinical-stage pharmaceutical company focused on developing psychedelic drugs for a variety of mental conditions. It has a large portfolio of drug candidates. Its psilocybin-based drug candidate HLP003, which is in Phase 3 trial, is aimed at a condition known as major depressive disorder (MDD). Its other drug candidate, HLP004, is in Phase 2 trial and targets generalized anxiety disorders.
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.
Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email below.
