Here Is Why AtaiBeckley (ATAI) Is One Of The 10 Best Stocks Under $10 That Could Triple

AtaiBeckley N.V. (NASDAQ:ATAI) is one of the 10 best stocks under $10 that could triple.

On June 25, AtaiBeckley N.V. (NASDAQ:ATAI) shared that the company will be included in the Russell indices following their latest reconstitution. The stock will become a part of the small-cap focused Russell 2000 Index, as well as the broader Russell 3000 Index, effective from June 29 onwards.

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The company highlighted this as a significant development since more than $12 trillion worth of assets are benchmarked relative to the Russell indexes. The Russell 2000 Index tracks around 2,000 small-cap stocks, while the Russell 3000 Index covers around 3,000 small-, mid-, and large-cap stocks.

Later on July 7, Canaccord Genuity increased the price target on AtaiBeckley N.V. (NASDAQ:ATAI) from $15 to $17, resulting in an adjusted upside potential of over 227%. The firm also reiterated its Buy rating on the stock.

The price target revision came after the company revealed that it has concluded dosing for the final patient in relation to its Phase 2 Elumina trial of VLS-01 for treatment-resistant depression. The company is targeting Phase 3 development for major depressive disorder, with a possibility of expanding into generalized anxiety disorder.

AtaiBeckley N.V. (NASDAQ:ATAI) is a clinical-stage biopharmaceutical company involved in the research, development, and commercialization of mental health therapies. The company’s product pipeline consists of BPL-003 undergoing Phase 2 trials for treatment-resistant depression and alcohol addiction, as well as RL-007 being developed for cognitive decline from schizophrenia.

While we acknowledge the risk and potential of ATAI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ATAI and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

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