TD Cowen analyst Ritu Baral has maintained their bullish stance on ATAI stock, giving a Buy rating on July 30.
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Ritu Baral has given her Buy rating due to a combination of factors that highlight ATAI Life Sciences’ promising future prospects. The company’s recent positive topline results from the Phase 2b trial of BPL003 in treatment-resistant depression (TRD) demonstrated significant efficacy and safety, with plans to advance to Phase 3 clinical development. This progress is expected to be supported by regulatory feedback anticipated by the end of 2025.
Additionally, ATAI’s strategic initiatives, including a planned combination with Beckley and the relocation of its corporate domicile to the US, are aimed at enhancing operational efficiencies and cost management. The company’s robust financial position, with a cash runway extending into the second half of 2027, further supports its ability to execute these strategic plans. These factors collectively underpin Ritu Baral’s confidence in ATAI’s growth potential, justifying the Buy rating.
Baral covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Krystal Biotech, and ATAI Life Sciences. According to TipRanks, Baral has an average return of 12.5% and a 48.49% success rate on recommended stocks.
In another report released on July 30, Maxim Group also maintained a Buy rating on the stock with a $10.00 price target.