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Latest Psychedelic Business & Investment News – Field Trip Gets $20 Price Target

Field Trip Receives A $20 Price Target With A Buy Rating, Launches New Therapist Programs…

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Contents
  1. Field Trip Receives A $20 Price Target With A Buy Rating, Launches New Therapist Programs
  2. The DEA Seeks To Increase Federal Production Limits For Research Psilocybin
  3. Synthesis Institute Closes $7.25M Series A Funding Through A Non-Traditional VC Path
  4. New Study Points Towards Possible Benefits Of LSD Microdosing
  5. Red Light Holland and Creso Pharma Call Off Psilocybin-Cannabis Merger
  6. MindSet Pharma Announces Successful Results From Preclinical Trials
  7. The Milestone Round

Field Trip Receives A $20 Price Target With A Buy Rating, Launches New Therapist Programs

HC WainWright began coverage of Field Trip Health (NASDAQ: FTRP) with a Buy rating and a $20 price target. The company’s shares closed at $5.2 on Friday’s trading session. With this prediction, Field Trip stock could be worth almost four times its price in just one year, further cementing the institutional backing of the psychedelics sector. The firm said FT-104, the company’s flagship drug candidate, could soon have among the most robust intellectual property protection in the space. “With clinics generally achieving profitability within 15-18 months and with multiple potential psychedelic compound approvals anticipated from 2023 and beyond, a leading operator of clinics such as Field Trip could have a steady and growing cash flow from operations, with healthy margins.” Though very optimistic, the analysts mentioned that the company’s strategy still carries substantial risk. Last week, Field Trip also announced a new program that will enable independent psychedelic therapists to provide ketamine-assisted psychotherapy at its health centers and launched a new therapist training program in psychedelics-assisted psychotherapy to be dictated in October.

The DEA Seeks To Increase Federal Production Limits For Research Psilocybin

The Drug Enforcement Administration is proposing a significant increase in federal limits for the production of psilocybin, psilocin and marijuana for research purposes. In a clear proof of institutional interest for the therapeutic value of some Schedule 1 substances, the DEA published a new document in the Federal Register last Thursday advocating for an increase in the aggregate production quotas for these naturally-produced substances, Marijuana Moment reported. Research-grade psilocybin (also known as the active compound in “magic mushrooms”) would be taken up to 1500 grams of production, from a current ceiling of only 30 grams. The quota for psilocin, which is the metabolized version of psilocybin and is also present in psilocybin mushrooms, would be increased to 1000 ... Full story available on Benzinga.com

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