Industry news, page-139

Analysts from investment firms have been steadily increasing their coverage of the psychedelic space, from Cybin receiving several positive reports to Compass getting a strong Buy rating, to the Maxim Group initiating coverage on ten shroom stocks.

Eight Capital Gives Buy Rating to 6 Shroom Stocks

Eight Capital analyst Sepehr Manochehry led the coverage, focusing on 6 psychedelic firms. The firm published an industry report a few months ago, giving their clients a review of the industry; and now, according to the analyst:

“The psychedelic industry is rapidly evolving, due to a combination of an increasingly favorable regulatory environment, a large influx of capital, and a growing body of clinical trial data on the use of psychedelics and related substances demonstrating a remarkable degree of efficacy in a range of mental health conditions, making this an optimal time for investing in well-positioned operators we highlight herein.”

MindMed

Current price: $3.10
Target price: $6.50

Cybin

Current price: $2.76
Target price: $8.15

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As per ASX anouncement on 11th Feb, 2021

The predominant purpose of the consulting arrangement is for EAS to facilitate introductions to US banks
and institutions with the aim of dual listing IHL securities on a US main market, such as the NYSE or Nasdaq,
whilst simultaneously retaining an ASX listing.

The scope of work also includes the following:
• Introductions to equity research providers in order to secure analyst coverage
• To generate global investor awareness with potential strategic investors in the USA, Europe, Asia,
and Australia
• To assist with financial modelling, presentation preparation and external data room maintenance.

For this reason I am looking forward to seeing similar Broker coverage for IHL, very soon

Good luck all