What are the best psychedelic stocks to buy?

The best psychedelic stocks have experimental psychedelic drugs already in clinical testing. They include Atai Life Sciences, Compass Pathways, Helus Pharma, Definium Therapeutics, and GH Research.

Are psychedelic stocks a good investment?

Psychedelic stocks are risky. No company developing psychedelic drugs has obtained regulatory approvals or achieved profitability yet. These stocks would be unsuitable for many investors. However, certain psychedelic stocks could appeal to aggressive investors who aren't risk-averse.

What is the forecast for psychedelic stocks?

The psychedelic market is still in its early innings. However, with several psychedelic drugs making progress in clinical studies, the market could grow significantly over the next few years. Mordor Intelligence projects that the global psychedelic market will increase by a compound annual growth rate of 13.5% through 2031 to around $8.75 billion. This bodes well for the stocks of top psychedelic drug companies.

Are psychedelic stocks legal to invest in?

Yes, psychedelic stocks are legal investment alternatives.

What drives growth in psychedelic stocks?

Several factors can contribute to the growth of psychedelic stocks, including:Positive clinical trial resultsRegulatory approvalsMergers and acquisitionsIncreased interest from institutional investorsGreater public acceptance of psychedelic therapies

Is there an ETF for psychedelics?

Yes, there are some ETFs that own psychedelic stocks. The AdvisorShares Psychedelics ETF (NYSEMKT:PSIL) is the most prominent one.

5 Best Psychedelic Stocks for 2026 and How to Invest

By Keith Speights – Updated Jul 10, 2026 at 1:15 PM EST | Fact-checked by Margo Winton Parodi

Key Points

Psychedelic stocks focus on using hallucinogens for treatment, despite being risky and volatile.
AtaiBeckley, now a major player, plans Phase 3 tests for depression treatments after a merger.
Compass Pathways is advancing a psilocybin therapy into late-stage clinical trials for PTSD.

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Ticker Information Table
Name and ticker	Current price	Market capMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.
AtaiBeckley (NASDAQ:ATAI)	$4.97	$1.9 billion
Compass Pathways (NASDAQ:CMPS)	$13.19	$1.8 billion
Cybin (NASDAQ:HELP)	$6.70	$425.8 million
Definium Therapeutics (NASDAQ:DFTX)	$43.65	$6.2 billion
GH Research (NASDAQ:GHRS)	$25.35	$1.8 billion

Data as of Jul 13, 2026. Showing 5 of 5 total entries.

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1. AtaiBeckley

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NASDAQ: ATAI

AtaiBeckley

Today's Change

(-3.87%) $-0.20

Current Price

$4.97

Key Data Points

Market Cap

$1.9B

Day's Range

$4.81 - $5.10

52wk Range

$2.58 - $6.75

Volume

7.9M

Avg Vol

7.6M

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With prominent backing from venture capitalists, including billionaire Peter Thiel, it's unsurprising that AtaiBeckley (ATAI -3.87%) ranks as one of the biggest biotech stocks focused on psychedelic drugs. The company was created in 2025 by merging Beckley Psytech and atai Life Sciences, which was founded in 2018 and went public in June 2021. AtaiBeckley has also acquired or made significant strategic investments in several other psychedelic companies.

AtaiBeckley's pipeline features three programs in clinical testing. The company plans to advance BPL-003 into Phase 3 testing for treatment-resistant depression (TRD) after reporting positive Phase 2 results in November 2025. It announced positive top-line results from a Phase 2 study of EMP-01 for the treatment of social anxiety disorder in the first quarter of 2026. AtaiBeckley also expects to announce top-line results from a Phase 2 study of VLS-01 for TRD in the second half of 2026.

The company's Perception Neuroscience unit teamed up with Japanese drugmaker Otsuka (OTSKY -3.34%) to develop R-ketamine for the treatment of depression. It's the first major collaboration between a psychedelic-focused biotech and a big pharma company. AtaiBeckley is also a major shareholder in Compass Pathways, the next psychedelic drugmaker on this list.

2. Compass Pathways

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NASDAQ: CMPS

Compass Pathways

Today's Change

(-3.34%) $-0.46

Current Price

$13.19

Key Data Points

Market Cap

$1.8B

Day's Range

$12.91 - $13.58

52wk Range

$3.45 - $15.40

Volume

Avg Vol

4.8M

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Compass Pathways (CMPS -3.34%) dates back to 2015, when George Goldsmith and Ekaterina Malievskaia founded the nonprofit organization Compass Trust Limited to support the research and development of psilocybin therapy for individuals with end-of-life anxiety.

Their efforts led to Compass Pathways becoming a for-profit company the following year. In September 2020, the company listed its shares on the Nasdaq stock exchange.

The drugmaker is currently evaluating COMP360 in treatment-resistant depression (TRD) in two Phase 3 studies. It reported positive results from the first of those studies in June 2025. Compass expects to report results from the other late-stage study in 2026.

COMP360 is currently Compass Pathways' only pipeline candidate. However, the company is evaluating the psychedelic therapy as a treatment for two indications other than TRD: post-traumatic stress disorder (PTSD) and anorexia nervosa. Compass Pathways received a green light from the U.S. Food and Drug Administration in January 2026 to advance COMP360 into late-stage testing for PTSD.

3. Helus Pharma

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NASDAQ: HELP

Cybin

Today's Change

(-2.48%) $-0.17

Current Price

$6.70

Key Data Points

Market Cap

$426M

Day's Range

$6.50 - $7.11

52wk Range

$3.76 - $9.12

Volume

2.1M

Avg Vol

1.3M

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Founded in 2019, Cybin went public in 2020 on Canada's NEO Exchange through a reverse takeover of Clarmin Explorations. Its shares began trading on the NYSE American in August 2021.

In December 2025, the company rebranded itself as Helus Pharma (HELP -2.48%). In conjunction with this name change, it transferred its U.S. stock listing to the Nasdaq stock exchange, effective on Jan. 5, 2026.

Helus Pharma's lead candidate is HLP003 (formerly known as CYB003), a deuterated version of psilocin, a psychedelic found in mushrooms. The company expects to report results from one phase 3 study of HLP003 as an adjunct treatment of major depressive disorder in the fourth quarter of 2026.

In addition, Helus' pipeline includes HLP004 (formerly known as CYB004), a deuterated version of dimethyltryptamine, a powerful hallucinogenic chemical found in plants and animals. The company evaluated HLP004 in a Phase 2 study targeting generalized anxiety disorder, with encouraging top-line results announced in the first quarter of 2026.

4. Definium Therapeutics

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NASDAQ: DFTX

Definium Therapeutics

Today's Change

(-7.27%) $-3.42

Current Price

$43.65

Key Data Points

Market Cap

$6.2B

Day's Range

$43.38 - $46.41

52wk Range

$7.96 - $49.20

Volume

1.8M

Avg Vol

2.9M

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Mind Medicine (also known as MindMed) was the first psychedelic drugmaker to conduct an initial public offering (IPO) on Canada's NEO Exchange in March 2020. The company was founded less than a year earlier, in May 2019.

In January 2026, MindMed announced a rebranding as Definium Therapeutics (DFTX -7.27%), changing its stock ticker to DFTX to reflect its new name.

Definium is evaluating its experimental psychedelic drug DT120 (formerly known as MM120) in two Phase 3 clinical studies targeting generalized anxiety disorder. In addition, Definium is evaluating DT120 in another Phase 3 study for major depressive disorder and plans to initiate a second Phase 3 study in the same indication in mid-2026. The company is also evaluating DT402 (formerly known as MM402) in a phase 1 study targeting autism spectrum disorder.

5. GH Research

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NASDAQ: GHRS

GH Research

Today's Change

(-4.38%) $-1.16

Current Price

$25.35

Key Data Points

Market Cap

$1.8B

Day's Range

$25.00 - $26.32

52wk Range

$11.32 - $28.96

Volume

196K

Avg Vol

263.1K

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GH Research (GHRS -4.38%) is a clinical-stage biopharmaceutical company based in Dublin, Ireland. It was founded in 2018 by Theis Terwey, Florian Schönharting, and Magnus Halle. Two of the three remain actively involved in the company, with Schönharting serving as chairman of the board of directors and Halle serving as managing director.

The company's lead pipeline candidate is GH001, an inhalable formulation of mebufotenin, a psychedelic found in various plants and the Colorado River toad. GH Research is evaluating the experimental drug in a Phase 2b clinical trial targeting treatment-resistant depression (TRD) and in a Phase 2a trial targeting bipolar II disorder. The TRD study was placed on a clinical hold by the U.S. Food and Drug Administration, but the hold was lifted in January 2026.

GH Research's other pipeline candidate is GH002, an intravenous formulation of mebufotenin. The company completed a Phase 1 study of GH002 for the treatment of psychiatric or neurological disorders. It's working to advance the experimental drug into the next stage of clinical testing.

How to buy psychedelic stocks

Follow these steps to invest in psychedelic stocks.

Open your brokerage account: Log in to your brokerage account where you handle your investments. If you don't have one yet, take a look at our favorite brokers and trading platforms to find the right one for you.
Search for the stock: Enter the ticker into the search bar to bring up the stock's trading page.
Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
Submit your order: Confirm the details and submit your buy order.
Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.

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Benefits and risks of investing in psychedelic stocks

The benefits of investing in psychedelic stocks include:

Significant long-term growth potential.
An opportunity to get in early on a nascent market.
A way to participate in novel treatments that help patients with neurological and psychological disorders.

However, there are also risks associated with investing in psychedelic stocks, including:

High volatility
Risk of clinical failures
Risk of regulatory setbacks

Methodology: How were these stocks chosen?

The most important criterion in selecting these five stocks was that they had to be actively developing psychedelic drugs. Companies that have only considered expanding into psychedelic drugs were excluded.

Size was also considered. To make the list, a company had to have a market cap of at least $200 million.

The growth prospects for each stock were also evaluated. Companies with psychedelic therapies in clinical development, especially those with late-stage pipelines, were given preference.

Should you invest in psychedelic stocks?

Investors who are risk-averse should probably avoid psychedelic stocks because of their volatility and potential for clinical failures and regulatory setbacks. Income investors should also look elsewhere because no psychedelic stock currently pays dividends.

On the other hand, aggressive investors who aren't afraid to take on considerable risk could find some psychedelic stocks attractive. Investors who like to get in on the ground floor of an emerging market may also want to consider buying psychedelic stocks.

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FAQ

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Investing in psychedelic stocks: FAQ

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About the Author

Keith Speights is a contributing Motley Fool healthcare analyst covering publicly traded companies across pharmaceuticals, biotechnology, medical devices, technology, and marijuana. Prior to The Motley Fool, Keith was CEO of Constant Care Technology, a healthcare technology company; vice president of American HealthTech, a healthcare software company; and a director of operations for Blue Cross Blue Shield of Mississippi, a health insurer. He holds a B.S. in Industrial Engineering from Mississippi State University.

TMFFishBiz

Keith Speights has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

5 Best Psychedelic Stocks for 2026 and How to Invest