What are the short-term price targets set by analysts for Atai Life Sciences?

The short-term price targets set by analysts for Atai Life Sciences (ATAI) are predominantly bullish, with a strong buy rating and price targets ranging from $6 to $12. Here's a detailed analysis: 1. **Analyst Consensus**: The analyst consensus for ATAI is a **Strong Buy** rating, indicating that analysts believe the stock has potential for further price appreciation. 2. **Price Target Ranges**: - **H.C. Wainwright**: Reiterated a Buy rating with a price target of $10.00. - **Canaccord Genuity**: Raised its price target to $12.00 from $11.00. - **Lucid Capital Markets**: Initiated coverage with a Buy rating and set a price target of $12.00. - **Jefferies Analysts**: Increased their price target on ATAI to $7.00 from $6.00. 3. **Upside Potential**: The average of current price targets by analysts is $10.00, which represents a significant upside from the last closing price of $2.75. This suggests that analysts see potential for the stock to appreciate in value. 4. **Market Reaction**: Following the announcement of positive Phase 2b results, ATAI's stock surged by 29%, reflecting investor optimism about the company's future prospects. In summary, analysts have set short-term price targets for ATAI that range from $6 to $12, with the average target price pointing towards the higher end of this range. The strong buy rating and increased price targets reflect optimism about the company's clinical developments and market potential.