5 Most Promising Psychedelic Stocks According To Analysts

In this article, we discuss 5 most promising psychedelic stocks according to analysts. If you want to see more stocks in this selection, check out 10 Most Promising Psychedelic Stocks According To Analysts. 

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

Number of Hedge Fund Holders: 15

Estimated 1-year Target Price: $13.72

Atai Life Sciences N.V. (NASDAQ:ATAI) was founded in 2018 and is headquartered in Berlin, Germany. It operates as a clinical-stage biopharmaceutical company that focuses on mental health disorders, such as treatment-resistant depression, schizophrenia, opioid use disorder, anxiety disorder, and mild traumatic brain injuries. It is one of the most promising psychedelic stocks according to Wall Street analysts. 

On January 19, H.C. Wainwright analyst Patrick Trucchio reiterated a Buy rating on Atai Life Sciences N.V. (NASDAQ:ATAI) but lowered the firm’s price target on the shares to $20 from $50. The analyst revised his assessment of the odds of success of PCN-101 to 5% from 80% due to the “disappointing” Phase 2a trial outcomes in patients with treatment-resistant depression. Nevertheless, he maintains his trust in several programs, such as VLS-01, RL-007, and GRX-917, all of which are in Phase 1 or 2 development, according to Trucchio’s communication with investors.

According to Insider Monkey’s Q4 data, 15 hedge funds were long Atai Life Sciences N.V. (NASDAQ:ATAI), compared to 19 funds in the last quarter. Cathie Wood’s ARK Investment Management is the biggest stakeholder of the company, with 5.6 million shares worth $15 million.