5 Best Psychedelic Stocks to Buy Now

2. Atai Life Sciences N.V. (NASDAQ: ATAI)

Atai Life Sciences N.V. (NASDAQ: ATAI) is a Germany-based biopharma company focusing on the development of psychedelic drugs. It is placed second on our list of 10 best psychedelic stocks to buy now. The company’s shares have offered investors returns exceeding 6.9% over the course of the past week. The company is backed by legendary investor Peter Thiel. It went public last month and was valued at $2.3 billion. 

On July 13, Atai Life Sciences N.V. (NASDAQ: ATAI) stock was initiated at Buy or Overweight rating by prominent investment advisors like Citi, Credit Suisse, Canaccord Genuity, and Cantor Fitzgerald, among others. 

At the end of the first quarter of 2021, 3 hedge funds in the database of Insider Monkey held stakes worth $782,000 in Atai Life Sciences N.V. (NASDAQ: ATAI), up from 1 in the previous quarter worth $118,000.