Aegis Capital Maintains Buy Rating on atai Life Sciences with $8 Target

LOS ANGELES- Aegis Capital has reaffirmed its Buy rating on atai Life Sciences N.V. (NASDAQ: ATAI), maintaining a price target of $8 following the release of positive Phase 2b results for BPL-003, the company’s investigational psychedelic therapy for treatment-resistant depression. Analyst Nathan Weinstein described the trial outcome as statistically significant across both the 8 mg and 12 mg doses, meeting primary and key secondary endpoints. The results position BPL-003 as a potential candidate for a Phase 3 study, pending regulatory feedback.

The trial, conducted by Beckley Psytech—an entity atai is in the process of acquiring—included 193 patients and showed notable reductions in depression symptoms with a favorable safety profile. This strengthens atai’s case for progressing the compound into the next stage of clinical development. Aegis noted the company’s intention to hold a post-Phase 2 meeting with the U.S. Food and Drug Administration, with the goal of initiating a Phase 3 program in the second half of 2026.

Financially, atai maintains a stable capital position. With a market capitalization near $571 million and a current ratio exceeding 4, the company has demonstrated its ability to cover short-term liabilities and fund its research initiatives. A recent private financing round raised $50 million, providing additional runway to support operations and strategic acquisitions, including the pending purchase of Beckley Psytech.

Analyst sentiment around the stock remains supportive. In addition to Aegis Capital, Canaccord Genuity has issued a Buy rating with a $12 target, and H.C. Wainwright maintains a similar stance with a $10 target. The average price target among analysts is currently around $9. Despite the company’s ongoing losses and a negative earnings profile, the consensus suggests confidence in its clinical pipeline and strategic direction.

Shares of atai have nearly doubled in 2025, climbing from $1.33 at the beginning of the year to around $2.62. The stock’s performance reflects optimism tied to its clinical milestones, although broader market conditions and future trial results will likely shape its trajectory in the coming quarters.

The reaffirmed rating from Aegis Capital reflects growing investor interest in the psychedelic drug development sector and underscores atai’s potential to deliver new therapies in the mental health space. With continued financial backing and a pathway toward Phase 3 studies, the company’s focus remains on advancing its portfolio while navigating the complex regulatory and clinical landscape.