Definium Therapeutics initiated with an Overweight at Piper Sandler

Piper Sandler initiated coverage of Definium Therapeutics (DFTX) with an Overweight rating and $49 price target The firm says Definium’s orally disintegrating tablet form of lysergide D-tartrate, DT120, represents a “best-in-class” opportunity in an emerging neuroplastogen space. Piper expects more differentiated antidepressant and anxiolytic options for populations that have been badly underserved by over a generation of therapeutic stagnation. It believes DT120’s peak U.S. sales potential is well in excess of $3B, translating into a “compelling risk/reward profile” at current share levels.