Lucid Launches Coverage on atai Life Sciences With Buy Rating

Lucid Capital Markets initiated coverage on atai Life Sciences N.V. (NASDAQ:ATAI) with a Buy rating and a $12 price target, pointing to the biotech firm's significant presence in the emerging field of psychedelic-based mental health therapies.

In just seven years, atai has built one of the most comprehensive pipelines in the industry, including multiple programs focused on depression, anxiety, PTSD, and substance use disorders. Its portfolio includes four psychedelic drug candidates, positioning the company at the forefront of innovation in a sector where academic research has spanned over seven decades.

The firm’s investment in COMPASS Pathways, a key player with a lead compound in late-stage testing for treatment-resistant depression, further anchors its strategy. atai and its affiliates are involved in four of the twelve major depression-related psychedelic trials currently underway.

With more than 30 active or planned clinical programs involving psychedelics, and growing demand for novel solutions to widespread mental health challenges, Lucid sees strong upside potential in atai’s diversified and early-mover approach.