Needham initiated coverage of Atai Life Sciences (ATAI) with a Buy rating and $12 price target The firm believes the company’s BPL-003 could offer greater convenience than Spravato with potentially improved efficacy. BPL-003 is well positioned to leverage to logistics established by Spravato and expand the market, taking 20% share by 2035 with over $2.5B in sales, the analyst tells investors in a research note. Needham sees Atai Life unlocking value in the psychedelics market.
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