eResearch | Of the one hundred (100) psychedelic and marijuana drug companies in the clinical stages of research and development of treatments for a wide variety of mental illnesses, 40 are based on the use of marijuana THC, and 60 (see here) based on the use of one or more of 10 different psychedelic substances (read 10 Psychedelic Substances And The 36 Companies Researching Them).
You will note that each constituent in the analyses below has 4 areas of additional information that are imperative for any individual considering investing in this sector:
- The company name is hyperlinked to its website to provide you with a description of the company and an analysis of its stock.
- The trading symbol is hyperlinked to additional financial data and commentary on the company (where available).
- The Chance of Financial Distress percentage is sourced from macroaxis.com (visit the site and type in the stock symbol to obtain detailed financial data on the health of the company).
- The Analyst Consensus is sourced from stockanalysis.com (visit the site and type in the stock symbol to obtain a detailed consensus of their recommendations and projections).
The munKNEE Psychedelic Compounds-Based Stocks Index
The constituent performances in April are presented below in descending order with their YTD performances in brackets:
Group 1 (market caps between $60M and $300M)
- Numinus (NUMIF): Down 16.7%; (Down 16.7% YTD)
- Chance of Financial Distress in the next 2 years: +39%
- Analyst Consensus: No analysts following NUMIF
- Field Trip (FTRP): Down 20.9%; (Down 56.9% YTD)
- Chance of Financial Distress in the next 2 years: +67%
- Seelos (SEEL): Down 26.2%; (Down 62.0% YTD)
- Chance of Financial Distress in the next 2 years: +52%
- Analyst Consensus: 12 stock analysts currently rate SEEL as a BUY.
- Allied (ALID): Down 29.1%; (Down 58.8% YTD)
- Chance of Financial Distress in the next 2 years: +24%
- Analyst Consensus: No analysts following ALID
- Cybin (CYBN): Down 29.9%; (Down 51.7% YTD)
- Chance of Financial Distress in the next 2 years: +62%
- Analyst Consensus: 14 stock analysts currently rate CYBN as a BUY.
- Zynerba (ZYNE): Down 31.2%; (Down 51.0% YTD)
- Chance of Financial Distress in the next 2 years: 6%
- Analyst Consensus: 12 stock analysts currently rate ZYNE as a BUY.
- Analyst Consensus: 10 stock analysts currently rate FTRP as a BUY.
The 6 constituents in Group 1 were Down 26.9%, on average, in April and are now Down 54.2% YTD.
Group 2
Their performances are presented below in descending order with their YTD performances in brackets:
- Atai (ATAI): Down 15.7%; (Down 43.8% YTD)
- Chance of Financial Distress in the next 2 years: +52%
- Analyst Consensus: 19 stock analysts currently rate ATAI as a BUY.
- GH Resources (GHRS): Down 20.6%; (Down 37.3% YTD)
- Chance of Financial Distress in the next 2 years: +39%
- Analyst Consensus: 10 stock analysts currently rate GHRS as a BUY.
- Mind Medicine (MNMD): Down 27.9%; (Down 42.0% YTD)
- Chance of Financial Distress in the next 2 years: +62%
- Analyst Consensus: 8 stock analysts currently rate MNMD as a BUY.
- Compass Pathways (CMPS): Down 29.7%; (Down 59.0% YTD)
- Chance of Financial Distress in the next 2 years: +58%
- Analyst Consensus: 17 stock analysts currently rate CMPS as a BUY.
The 4 constituents in Group 2 went Down 23.3%, on average, in April and are now Down 47.1% YTD.
A Word of Caution
Most psychedelic companies are clinical-stage startups still in the product research and development of novel compounds. They have no products and no revenue and require a great deal of money to fund their R&D expenses so do your own in-depth due diligence. The above information should go a long way to helping you arrive at a prudent investment decision.
Notes: All numbers in CAD unless otherwise stated. The author of this report, and employees, consultants, and family of eResearch may own stock positions in companies mentioned in this article and may have been paid by a company mentioned in the article or research report. eResearch offers no representations or warranties that any of the information contained in this article is accurate or complete. Articles on eresearch.com are provided for general informational purposes only and do not constitute financial, investment, tax, legal, or accounting advice nor does it constitute an offer or solicitation to buy or sell any securities referred to. Individual circumstances and current events are critical to sound investment planning; anyone wishing to act on this information should consult with a financial advisor. The article may contain “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements are based on the opinions and assumptions of the Company’s management as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein. Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Please read eResearch’s full disclaimer.
