Maxim upgraded Atai Life Sciences to Buy from Hold with a $6 price target. The company is becoming a key player in the psychedelics space and has a “healthy” balance sheet, the analyst tells investors in a research note. The firm believes Atai’s collaboration with Beckley Psytech brings meaningful share catalysts in 2024. Psychedelic medicines have gained renewed investor attention this year as the broader biotech market shows signs of recovery, adds Maxim.
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