Largest Psychedelic Stocks Down 13% Last Week; Down 20% YTD

The 7 largest psychedelic drug stocks (market caps of $75M or more) tracked in the munKNEE Psychedelic Drug Stocks index are ranked below as to their likelihood of Financial Distress within the next 2 years according to data from macroaxis.com, their average year-end price targets as provided by stockanalysis.com as well as their stock performances last week and since the end of January (i.e. 6 weeks). Please note that Incannex is a new addition to this index. TM Editors Note: This article mentions one or more penny stocks/microcaps. Such stocks are easily manipulated; do your own careful due diligence.

1. Incannex Healthcare (IXHL): Down 6.1% last week; Down 32.3% in last 6 weeks
   • Incannex engages in the research, development, and sale of medicinal cannabinoid and psychedelic pharmaceutical products and therapies and has the largest portfolio of such products an therapies worldwide.
   • The Company is headquartered in Australia and trades on the Australian Stock Exchange (ASX) and the Nasdaq.
   • It is not covered by any Wall Street analysts or macroaxis.com.
2. Seelos (SEEL): Down 7.0% last week; Down 18.5% in last 6 weeks
   • 10 analysts have:
     • an average year-end price target of $6.38 representing
     • a 867% increase from the March 10th price of $0.66 and
     • a consensus BUY rating and, according to an analysis by macroaxis.com;
   • has a 61% Chance of Financial Distress within 2 years;
   • Read: Seelos Addressing Significant And Unmet Needs In Rare Psychiatric And Movement Disorders
3. Compass Pathways (CMPS): Down 8.7% last week; Down 27.6% in last 6 weeks
   • 18 analysts have:
     • an average year-end price target of $42.38 representing
     • a 447% increase from the March 10th price of $7.75 and
     • a consensus BUY rating and, according to an analysis by macroaxis.com, 
   • has a 30% Chance of Financial Distress within 2 years;
   • Read: Compass Pathways - Entering A Brave New World
4. Cybin (CYBN): Down 10.7% last week; up 2.5% in last 6 weeks
   • 11 analysts have:
     • an average year-end price target of $4.46 representing
     • a 33.7% increase from the March 10th price of $0.41 and
     • a consensus BUY rating and, according to an analysis by macroaxis.com;
   • has a 56% Chance of Financial Distress within 2 years;
   • Read: Cybin Inc. Was Down 70% In 2022 But Has Bounced Back By 59% YTD - Here's Why
5. Atai (ATAI): Down 14.7% last week; Down 25.7% in last 6 weeks
   • 20 analysts have:
     • an average year-end price target of $13.99 representing
     • a 952% increase from the March 10th price of $1.33 and
     • a consensus BUY rating and, according to an analysis by macroaxis.com;
   • has a 56% Chance of Financial Distress within 2 years;
   • Read: Atai Life Sciences: Long On Money; Short On Success
6. Mind Medicine (MNMD): Down 17.3% last week; Down 12.5% in last 6 weeks 
   • 7 analysts have:
     • an average year-end price target of $61.20 representing
     • a 1933% increase from the March 10th price of $3.01 and
     • a consensus BUY rating and, according to an analysis by macroaxis.com;
   • has a 56% Chance of Financial Distress within 2 years;
   • Read: MindMed: Researching LSD And MNMA To Treat Neurological Diseases
7. GH Research (GHRS): Down 17.9% last week; Down 10.1% in last 6 weeks
   • 12 analysts have:
     • an average year-end price target of $38.76 representing
     • a 348% increase from the March 10th price of $8.66 and
     • a consensus BUY rating and, according to an analysis by macroaxis.com;
   • has a 58% Chance of Financial Distress within 2 years;
   • Read: GH Resources: Focus On Treatment-Resistant Depression Paying Off
     • GH Research: Can 'Toad Venom' Cure Depression? This Company Thinks It Can

In summary:

• the munKNEE Psychedelic Drug Stocks Index:
  • was Down 13.4% last week and
  • is now Down 20.0% in the past 6 weeks
• the price targets for the above stocks represents a 666% increase from their March 10th close.

If you are interested in this category of clinical-stage psychedelic compound-based stocks consider the AdvisorShares Psychedelic ETF (PSIL) that consists of 23 such stocks but keep in mind that the vast majority have market capitalizations of $50M or less (i.e. are nano-caps). It was Down 10.0% last week as compared to the munKNEE Psychedelic Drug Stocks Index featured above and has declined 17.0% in the past 6 weeks.

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