H.C. Wainwright analyst Patrick Trucchio reiterated a Buy rating and $25.00 price target on atai Life Sciences N.V (NASDAQ: ATAI).

The analyst commented: "This morning, AtaiBeckley announced the publication of results from its ongoing four-part Phase 2a trial evaluating BPL-003 (5-MeO-DMT, mebufotenin benzoate nasal spray) in patients with moderate-to-severe treatment-resistant depression (TRD) (Roberts et al. 2026 J. of Psychopharmacology). The updated open-label data suggest that the therapeutic effect of a single BPL-003 dose deepens over time and is sustained through at least 12 weeks. In the end-of-Phase 2 meeting with the FDA held in 1Q26, AtaiBeckley announced it had reached alignment with the FDA on the dual-trial design for its planned Phase 3 program, which, together with the FDA's Breakthrough Therapy designation granted in October 2025, de-risks the Phase 3 program, in our view, and remains on track to initiate in 2Q26. These data provide a compelling signal that continues to set the standard for the 5-MeO-DMT class, in our view. We reiterate our Buy rating and $25 price target on ATAI."

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Shares of atai Life Sciences N.V closed at $3.65 yesterday.