Guggenheim Initiates Buy Rating for AtaiBeckley (ATAI) With $11 PT, Cites Leadership in Psychiatry

AtaiBeckley Inc. (NASDAQ:ATAI) is one of the best fast growing penny stocks to buy according to analysts. On January 20, Guggenheim initiated coverage of AtaiBeckley with a Buy rating and an $11 price target, identifying the firm as a differentiated leader in the field of next-generation psychiatry.

The firm noted that the recent merger with Beckley Psytech provides full ownership of the lead asset, BPL-003, which has shown compelling efficacy and durability in Phase IIIb trials for treatment-resistant depression. Consequently, the firm believes that BPL-003 is uniquely positioned for efficient clinical adoption and commercial scaling.

Earlier on December 23, JonesResearch analyst Justin Walsh initiated coverage of AtaiBeckley Inc. (NASDAQ:ATAI) with a Buy rating and a $16 price target. The firm highlighted the company’s pipeline of psychedelic and empathogenic drugs as a unique opportunity within large neuropsychiatric markets. The firm also noted that current development trends favor these drug classes and specifically points to lead assets BPL-003 and VLS-01, whose short half-lives are expected to facilitate their use in treating treatment-resistant depression.

AtaiBeckley Inc. (NASDAQ:ATAI) is a clinical-stage biopharmaceutical company that researches, develops, and commercializes mental health treatments in the US, Germany, and Canada.

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