EF Hutton analyst Elemer Piros lowered the firm’s price target on Atai Life Sciences to $15 from $23 and reiterates a Buy rating on the shares. The company reported inconsequential data for R-ketamine when tested in treatment-resistant depression, Piros tells investors in a research note. The analyst says that while Atai has a "very significant pipeline," he discounts the stock’s valuation by 50% compared to a universe of peer companies.
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