Guggenheim initiated coverage of Atai Beckley (ATAI) with a Buy rating and $11 price target based on the company’s position as “a differentiated leader in next-generation psychiatry.” The recent merger with Beckley Psytech secures full ownership of the lead asset, BPL-003, which has demonstrated “compelling” Phase IIIb efficacy and durability in treatment-resistant depression, notes the analyst, who believes BPL-003 is “uniquely positioned for rapid clinical adoption and commercial scale.”
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