Atai Beckley initiated with a Buy at JonesResearch

JonesResearch analyst Justin Walsh initiated coverage of Atai Beckley (ATAI) with a Buy rating and $16 price target The firm believes the company’s pipeline of psychedelic and empathogenic drugs offer “differentiated opportunities” in large neuropsychiatric indications. Atai Beckley will benefit from current trends favoring the development of drugs in these classes, the analyst tells investors in a research note. Jones thinks the short half-lives of Atai’s lead assets BPL-003 and VLS-01 will allow their use in treatment resistant depression.