7 Best Fast Growing Penny Stocks to Buy According to Analysts

Page 6 of 6

1. AtaiBeckley Inc. (NASDAQ:ATAI)

Number of Hedge Fund Holders: 21

Average Upside Potential: 208.48%

AtaiBeckley Inc. (NASDAQ:ATAI) is one of the best fast growing penny stocks to buy according to analysts. On January 20, Guggenheim initiated coverage of AtaiBeckley with a Buy rating and an $11 price target, identifying the firm as a differentiated leader in the field of next-generation psychiatry.

The firm noted that the recent merger with Beckley Psytech provides full ownership of the lead asset, BPL-003, which has shown compelling efficacy and durability in Phase IIIb trials for treatment-resistant depression. Consequently, the firm believes that BPL-003 is uniquely positioned for efficient clinical adoption and commercial scaling.

Earlier on December 23, JonesResearch analyst Justin Walsh initiated coverage of AtaiBeckley Inc. (NASDAQ:ATAI) with a Buy rating and a $16 price target. The firm highlighted the company’s pipeline of psychedelic and empathogenic drugs as a unique opportunity within large neuropsychiatric markets. The firm also noted that current development trends favor these drug classes and specifically points to lead assets BPL-003 and VLS-01, whose short half-lives are expected to facilitate their use in treating treatment-resistant depression.

AtaiBeckley Inc. (NASDAQ:ATAI) is a clinical-stage biopharmaceutical company that researches, develops, and commercializes mental health treatments in the US, Germany, and Canada.

While we acknowledge the potential of ATAI 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 ATAI and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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 address below.

Page 6 of 6