Deutsche Bank starts AtaiBeckley with Buy rating and $12 price target, citing upside tied to its psychedelic and CNS pipeline

AtaiBeckley receives a Buy initiation from Deutsche Bank with a $12 price target. The coverage frames the thesis around AtaiBeckley's clinical-stage CNS pipeline and the market opportunity for future psychiatric treatments, which includes psychedelic-adjacent and psychedelic-derived programs. AtaiBeckley is described as developing multiple therapies spanning depression and other mental health indications, including ketamine-based approaches and ibogaine and psilocybin-related drug candidates, positioning the stock for potential re-rating if clinical progress supports value creation.