Ami Fadia, an analyst from Needham, maintained the Buy rating on ATAI Life Sciences. The associated price target remains the same with $12.00.
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Ami Fadia has given his Buy rating due to a combination of factors related to ATAI Life Sciences’ recent clinical trial results. The company announced encouraging data from its Phase 2b open-label extension (OLE) study for BPL-003, which showed sustained and enhanced responses across all measured outcomes with a maintenance dose. The safety profile was consistent with the core Phase 2b study, which is a positive indicator for the treatment’s viability.
A key highlight from the trial was the 8mg dose, which achieved remission and response rates of 67% and 81% by Day 57, respectively. These results appear competitive when compared to Spravato, although direct comparisons are not possible. Management is optimistic about integrating BPL-003 into existing patient care frameworks, with most patients being discharged within two hours. This positions BPL-003 for a potentially advantageous clinical profile, offering less frequent treatments than Spravato. An End-of-Phase 2 meeting is scheduled, and management plans to provide guidance on the Phase 3 design in the first quarter of 2026.
Fadia covers the Healthcare sector, focusing on stocks such as Immuneering, Biogen, and Jazz Pharmaceuticals. According to TipRanks, Fadia has an average return of 19.4% and a 51.80% success rate on recommended stocks.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $15.00 price target.