TD Cowen analyst Ritu Baral has maintained their bullish stance on ATAI stock, giving a Buy rating on May 15.
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Ritu Baral has given her Buy rating due to a combination of factors including the promising clinical trial pipeline and financial stability of ATAI Life Sciences. The company is advancing several key studies, such as the Phase 2b trial of BPL-003 for treatment-resistant depression, with data expected by mid-2025. This trial has garnered significant investor interest due to its potential to replicate positive results seen in similar studies.
Additionally, ATAI’s financial position is strong, with a cash runway expected to extend into 2027, providing a stable foundation for ongoing research and development. The termination of the Hercules Loan Agreement and the payoff of $21.8 million in outstanding debt further solidify the company’s financial health, supporting the Buy rating recommendation.
Baral covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Alnylam Pharma, and Madrigal Pharmaceuticals. According to TipRanks, Baral has an average return of 2.5% and a 39.31% success rate on recommended stocks.
In another report released on May 15, Maxim Group also reiterated a Buy rating on the stock with a $6.00 price target.
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