In a report released yesterday, Harry Gillis from Berenberg Bank reiterated a Buy rating on ATAI Life Sciences, with a price target of $12.00.
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Harry Gillis has given his Buy rating due to a combination of factors that highlight ATAI Life Sciences’ promising position in the psychedelics market. The company has demonstrated exceptional progress, with its share price appreciating nearly 300% since the initial Positive rating. This momentum is expected to continue, supported by a robust pipeline, secured funding, and the anticipated entry of its lead program into Phase 3 trials in the first half of 2026.
ATAI’s focus on short-acting psychedelics for severe mental health conditions, such as treatment-resistant depression, positions it as a leader in addressing high unmet needs. The impressive Phase 2b trial data for its nasal 5-MeO-DMT candidate, BPL-003, underscores its potential, with rapid symptom improvement and sustained efficacy. Additionally, the company’s strategic advantage is bolstered by the commercial viability of short-acting psychedelics and significant interest from large pharmaceutical companies in the CNS therapeutics space. These elements collectively contribute to the Buy rating and a risk-adjusted price target of USD 12.
Gillis covers the Healthcare sector, focusing on stocks such as Qiagen, Moderna, and Tecan Group AG. According to TipRanks, Gillis has an average return of -0.3% and a 50.00% success rate on recommended stocks.
In another report released on October 21, Canaccord Genuity also reiterated a Buy rating on the stock with a $14.00 price target.