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.
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