Maxim Group analyst Michael Okunewitch has maintained their bullish stance on ATAI stock, giving a Buy rating yesterday.
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Michael Okunewitch’s rating is based on the promising results from ATAI Life Sciences’ Phase 2b study of BPL-003 in treatment-resistant depression. The study demonstrated statistically significant improvements in depression scores for both the 12mg and 8mg doses compared to the control group, with rapid and sustained effects observed as early as one day after dosing and lasting throughout the 8-week study period.
Additionally, the safety profile was favorable, with most adverse events being mild to moderate and no serious safety concerns noted. The company’s financial position is also strong, with a recent $50 million private placement ensuring funding into late 2027. These positive outcomes, combined with the potential for further advancements in dosing regimens, position ATAI as a leader in short-acting psychedelics, prompting an increase in the 12-month price target to $10.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $10.00 price target.