H.C. Wainwright Raises Price Target on Atai Life Sciences to $15.

H.C. Wainwright analyst Patrick Trucchio raised the price target on Atai Life Sciences (ATAI) to $15 from $10 while maintaining a Buy rating. Despite missing the primary endpoint in a Phase 2b trial, the firm is bullish on the company due to its focus on its wholly-owned psychedelics pipeline, including BPL-003, which has exceeded expectations.

H.C. Wainwright analyst Patrick Trucchio has raised the price target on Atai Life Sciences (ATAI) to $15 from $10, while maintaining a Buy rating on the stock. This comes after the biotech company's Phase 2b trial for inidascamine (formerly RL-007) in patients with cognitive impairment associated with schizophrenia missed its primary endpoint. Despite this setback, the firm remains optimistic about Atai's future, particularly its wholly-owned psychedelics pipeline, including BPL-003.

The firm highlighted BPL-003's compelling Phase 2b data in treatment-resistant depression, which showed statistically significant reductions in the MADRS depression scale as early as Day 2, with most patients becoming discharge-ready within 90 minutes. Based on these results, H.C. Wainwright increased its probability of success for BPL-003 to 85% from 60% previously, while removing RL-007 from its valuation model as Atai prepares to engage regulators in the third quarter of 2025 and initiate a Phase 3 trial in the first half of 2026.

Other analysts have also shown confidence in Atai's prospects. Canaccord Genuity raised its price target to $12, maintaining a Buy rating. Aegis Capital reiterated its Buy rating with an $8 price target. Oppenheimer initiated coverage of Atai with an Outperform rating and a $14 price target. These developments reflect a mix of challenges and opportunities for Atai Life Sciences as it navigates its clinical trials and market evaluations.

References:
[1] https://za.investing.com/news/analyst-ratings/hc-wainwright-raises-atai-life-sciences-stock-price-target-to-15-on-bpl003-potential-93CH-3813453
[2] https://www.investing.com/news/analyst-ratings/hc-wainwright-raises-atai-life-sciences-stock-price-target-to-15-on-bpl003-potential-93CH-4162730