Canaccord Genuity Lifts Atai Life Sciences N.V. (ATAI)’s Price Target To $12, Maintains Buy Rating

Atai Life Sciences N.V. (NASDAQ:ATAI) is one of the 13 Best German Stocks to Invest in Now. On July 2, analysts at Canaccord Genuity lifted the stock’s price target from $11 to $12, while maintaining a Buy rating for its shares.

Canaccord Genuity Lifts Atai Life Sciences N.V. (ATAI)'s Price Target To $12, Maintains Buy Rating

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The adjustment followed the joint announcement by Atai Life Sciences N.V. (NASDAQ:ATAI) and Beckley Psytech Limited of encouraging results from the Phase 2b clinical trial evaluating the efficacy of a single dose of BPL-003 in patients with treatment-resistant depression (TRD).

Canaccord noted the potential commercial advantage BPL-003 could enjoy after the results stated the average time to meet readiness for discharge criteria was under two hours post-dose. The analysts added that Atai Life Sciences N.V. (NASDAQ:ATAI) remains “significantly undervalued relative to the sizes of the opportunities in the mental health indications it is targeting.”

Atai Life Sciences N.V. (NASDAQ:ATAI) and Beckley Psytech Limited plan on engaging the U.S. FDA and other agencies regarding Phase 3 trial design for patients in the coming months.

Atai Life Sciences N.V. (NASDAQ:ATAI) is a clinical-stage biopharmaceutical company focused on the research, development, and commercialization of mental health treatments.

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