 This week, a number of financial firms and investment banks initiated coverage of Atai Life Sciences NASDAQ:ATAI, the Peter Thiel-backed biotech exploring a host of psychedelic compounds and treatments for use in mental health. Ratings ranged from a very sober sector performance rating from RBC Capital Markets with a 19 12-month price target, to a very bullish Overweight rating from Cantor Fitzgerald, which gave Atai a 12-month price target of 45. 