H.C. Wainwright Reiterates Buy Rating on atai Life Sciences N.V (ATAI)

H.C. Wainwright analyst Patrick Trucchio reiterated a Buy rating and $10.00 price target on atai Life Sciences N.V (NASDAQ: ATAI).

The analyst commented: "On June 2, atai announced a strategic combination with Beckley Psytech, a private biotech company focused on the development of rapid-acting psychedelic treatments, in which atai held a 35.5% equity interest since January 2024. The merged company, atai Beckley, brings together atai's wholly-owned mental health pipeline with Beckley's lead candidate BPL-003, an intranasal formulation of mebufotenin benzoate (5-MeO-DMT), which remains one of the most advanced and differentiated short-duration psychedelics in development for treatment-resistant depression (TRD), with top-line data from a Phase 2b trial on track for mid-2025, which, if positive, could further validate the short-duration psychedelic model and pave the way for a pivotal Phase 3 program potentially later this year. We reiterate our Buy rating and $10 price target on ATAI."

For an analyst ratings summary and ratings history on atai Life Sciences N.V click here. For more ratings news on atai Life Sciences N.V click here.

Shares of atai Life Sciences N.V closed at $2.49 yesterday.

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