Citi analyst Neena Bitritto-Garg lowered the firm’s price target on Atai Life Sciences to $10 from $20 and keeps a Buy rating on the shares. The analyst removed PCN-101 from her model following data from the Phase 2a study. Given the lack of meaningful upside catalysts in 2023, Atai shares could remain relatively range-bound near-term, Bitritto-Garg tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on ATAI:
- Rising High: Exclusive talk with cannabinoid market research firm BDSA
- Atai Life Sciences price target lowered to $15 from $23 at EF Hutton
- Atai Life Sciences says Phase 2a trial of PCN-101 did not meet primary endpoint
- atai Life Sciences Announces Results from Phase 2a Trial of PCN-101 (R-ketamine) for Treatment-Resistant Depression
- Oregon becomes first U.S. state to legalize ‘magic’ mushrooms, NYT says