H.C. Wainwright Reiterates a Buy Rating on Atai Life Sciences (ATAI)

Atai Life Sciences (NASDAQ:ATAI) is one of the top strong buy stocks under $5 to buy now. Analyst Patrick Trucchio from H.C. Wainwright reiterated a Buy rating on Atai Life Sciences (NASDAQ:ATAI) on August 18, keeping the price target at $15.00.

The analyst supported the optimistic rating with the promising outlook for BPL-003, a short-acting psychedelic therapy that treats treatment-resistant depression (TRD).

He expects the upcoming milestones, such as an FDA meeting and the Phase 2b and Phase 2a study results, to clear the way for Phase 3 trials, potentially bolstering Atai Life Sciences’ (NASDAQ:ATAI) market potential.

Trucchio added that he expects the strategic acquisition of Beckley Psytech and the redomiciliation to the US to be significant factors in growing investor interest and streamlining operations.

Headquartered in Germany, Atai Life Sciences (NASDAQ:ATAI) is a clinical-stage biopharmaceutical company focused on treating mental health disorders.

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Disclosure: None. This article is originally published at Insider Monkey.