AtaiBeckley awarded ‘Buy’ rating in initial coverage from Deutsche Bank analysts

Deutsche Bank has initiated sum connected AtaiBeckley Inc. (NASDAQ:ATAI, XETRA:9VC) assigning a 'Buy' standing and mounting a terms people of $12, implying imaginable upside of astir 320% from existent levels.

In a enactment to clients, analysts highlighted the company’s presumption successful the emerging tract of psychedelic medicine for intelligence health.

“Recently, respective psychedelic companies person emerged arsenic bona fide cause developers, attracting attraction from healthcare and biotech investors who usually put successful accepted therapeutics,” they wrote. “We number ATAI among these trailblazers and judge it volition go a person successful the nascent tract of psychedelic medicine for intelligence wellness conditions.”

The steadfast cited AtaiBeckley’s pb programs, BPL-003 and VLS-01, which are being developed for treatment-resistant depression, an country with precocious unmet need.

The analysts noted that “with rapid-acting and perchance durable effects, BPL-003, followed by VLS-01, tin leverage the existing Spravato commercialized exemplary successful treatment-resistant depression, portion displacing some marketplace person Spravato and first-generation, long-acting psychedelics.”

Deutsche Bank besides noted that AtaiBeckley’s 3rd program, EMP-01 for seasonal affective disorder, describing it arsenic “akin to a telephone option.” The analysts wrote that their risk-adjusted discounted currency travel exemplary suggests the shares are “materially undervalued, with astir 3.5x upside versus astir 70% downside successful our base-case valuation.”

Phase 2 information for VLS-01 and Phase 2a Part 4 information for BPL-003, intended arsenic an adjunct to SSRIs, are expected successful the 2nd fractional of 2026 and 4th fourth 2026, respectively, which Deutsche Bank noted could supply near-term catalysts for the stock.