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

H.C. Wainwright analyst Patrick Trucchio reiterated a Buy rating and $15.00 price target on atai Life Sciences N.V (NASDAQ: ATAI).

The analyst commented: "On September 23, atai announced positive data from the Phase 2a two-dose induction regimen, open-label extension (OLE) study evaluating intranasal BPL-003 (mebufotenin), a short-duration psychedelic, in patients with treatment-resistant depression (TRD) who were not on concurrent antidepressants. The data show improved mean Montgomery-Asberg Depression Rating Scale (MADRS) scores and a doubled remission rate after the second dose of BPL-003, suggesting that it may further enhance the clinical response beyond what is achieved with a single dose, and we believe these data continue to support the advancement of the program. The data also increases our confidence in the upcoming Phase 2b 8-week open-label extension readout for BPL-003 in TRD, expected in 3Q25, which, if positive, could further validate the short-duration psychedelic model and pave the way for a pivotal Phase 3 program expected to start 1H26. We reiterate our Buy rating and $15 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 $5.61 yesterday.

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