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 grow at a compound annual growth rate of 13.5% through 2031, reaching 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 Sep 10, 2026 at 1:18 PM EST | Fact-checked by Margo Winton Parodi

Key Points

Psychedelic stocks focus on developing drugs to treat mental illnesses with hallucinogens.
Eli Lilly plans to acquire AtaiBeckley for $2.8 billion, enhancing its psychedelic portfolio.
Compass Pathways progresses COMP360, a psilocybin therapy, towards FDA approval.

Whether you call them magic mushroom stocks, 'shroom stocks, or psilocybin stocks, psychedelic stocks are hot right now. Psychedelics have gone from a countercultural fad of the 1960s to mainstream medicine in the 2020s.

Quite a few psychedelic pharmaceutical companies are developing drugs that follow the legal, regulatory pathway to approval. Hallucinogens, including psilocybin, are showing considerable promise in treating illnesses such as depression and schizophrenia. Let's explore five of the best publicly traded psychedelic companies on the market today.

5 top psychedelic stocks for 2026

Psychedelic stocks are simply healthcare stocks focused on the use of hallucinogens to treat diseases. Because the area is still fairly new, most of these companies have relatively low market capitalizations. However, many are growing rapidly.

Here are five of the top psychedelic stocks.

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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)	$7.35	$2.7 billion
Compass Pathways (NASDAQ:CMPS)	$14.29	$2.0 billion
Cybin (NASDAQ:HELP)	$12.62	$938.1 million
Definium Therapeutics (NASDAQ:DFTX)	$38.58	$5.1 billion
GH Research (NASDAQ:GHRS)	$27.10	$1.9 billion

Data as of Sep 11, 2026. Showing 5 of 5 total entries.

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1. AtaiBeckley

NASDAQ: ATAI

AtaiBeckley

Premium Feature

Moneyball Superscore

57/100

Today's Change

(0.82%) $0.06

Current Price

$7.35

Key Data Points

Market Cap

$2.7B

Day's Range

$7.30 - $7.37

52wk Range

$3.27 - $7.45

Volume

9.6M

Avg Vol

14.4M

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With prominent backing from venture capitalists, including billionaire Peter Thiel, it's unsurprising that AtaiBeckley (ATAI +0.82%) 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.

And AtaiBeckley is in the process of being acquired itself. Eli Lilly (LLY -0.02%) announced in July 2026 that it plans to acquire AtaiBeckley for $2.8 billion, or $6.75 per share. AtaiBeckley shareholders could also receive up to $2.75 per share from a contingent value right (CVR), a financial agreement that promises an additional payment if specified milestones are achieved, related to two of the company's programs.

One of those programs is BPL-003. AtaiBeckley is moving forward with a Phase 3 study evaluating the psychedelic drug for treatment-resistant depression (TRD). The other therapy included in Lilly's CVR is VLS-01. In July 2026, AtaiBeckley dosed the last patient in a Phase 2 study of the experimental drug in treating major depressive disorder. The company plans to advance VLS-01 into late-stage testing pending positive Phase 2 results.

2. Compass Pathways

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NASDAQ: CMPS

Compass Pathways

Premium Feature

Moneyball Superscore

71/100

Today's Change

(0.52%) $0.07

Current Price

$14.29

Key Data Points

Market Cap

$2.0B

Day's Range

$14.13 - $14.65

52wk Range

$4.82 - $15.87

Volume

1.1M

Avg Vol

3.4M

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Compass Pathways (CMPS +0.52%) 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 announced more good news from six-month data of the second late-stage study in July 2026. The company expects to complete a rolling submission to the U.S. Food and Drug Administration (FDA) for approval of COMP360 in the fourth quarter of 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

(-1.75%) $-0.23

Current Price

$12.62

Key Data Points

Market Cap

$938M

Day's Range

$12.61 - $13.52

52wk Range

$3.76 - $14.35

Volume

659.4K

Avg Vol

1.7M

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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 -1.75%). 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

Premium Feature

Moneyball Superscore

72/100

Today's Change

(2.25%) $0.85

Current Price

$38.58

Key Data Points

Market Cap

$5.1B

Day's Range

$37.73 - $38.77

52wk Range

$8.77 - $49.70

Volume

424K

Avg Vol

2.8M

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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 +2.25%), changing its stock ticker to DFTX to reflect its new name.

Definium announced positive results in June 2026 from a Phase 3 study evaluating experimental psychedelic drug DT120 (formerly known as MM120) in the treatment of major depressive disorder. The company followed up in August with positive results from another late-stage study of the drug in the treatment of generalized anxiety disorder. Definium expects to report data from other Phase 3 studies of DT120 later in 2026 and in 2027.

5. GH Research

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NASDAQ: GHRS

GH Research

Premium Feature

Moneyball Superscore

54/100

Today's Change

(-0.66%) $-0.18

Current Price

$27.10

Key Data Points

Market Cap

$1.9B

Day's Range

$27.07 - $28.11

52wk Range

$11.83 - $31.44

Volume

30.3K

Avg Vol

277.7K

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GH Research (GHRS -0.66%) 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.

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. And investors who like to get in on the ground floor of an emerging market may want to consider buying psychedelic stocks.

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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

Key Points

5 top psychedelic stocks for 2026

1. AtaiBeckley

Key Data Points

2. Compass Pathways

Key Data Points

3. Helus Pharma

Key Data Points

4. Definium Therapeutics

Key Data Points

5. GH Research

Key Data Points

How to buy psychedelic stocks

Benefits and risks of investing in psychedelic stocks

Methodology: How were these stocks chosen?

Should you invest in psychedelic stocks?

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Investing in psychedelic stocks: FAQ

What are the best psychedelic stocks to buy?

What are the best psychedelic stocks to buy?

Are psychedelic stocks a good investment?

Are psychedelic stocks a good investment?

What is the forecast for psychedelic stocks?

What is the forecast for psychedelic stocks?

Are psychedelic stocks legal to invest in?

Are psychedelic stocks legal to invest in?

What drives growth in psychedelic stocks?

What drives growth in psychedelic stocks?

Is there an ETF for psychedelics?

Is there an ETF for psychedelics?

About the Author

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Stocks Mentioned

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Premium Investing Services

5 top psychedelic stocks for 2026

Key Data Points

2. Compass Pathways

Key Data Points

3. Helus Pharma

Key Data Points

4. Definium Therapeutics

Key Data Points

5. GH Research

Key Data Points

How to buy psychedelic stocks

Benefits and risks of investing in psychedelic stocks

Methodology: How were these stocks chosen?

Should you invest in psychedelic stocks?

5 Best Artificial Intelligence (AI) ETFs to Buy in 2026

10 Best Growth Stocks for 2026

5 Best Marijuana Stocks for 2026 and How to Invest

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Investing in psychedelic stocks: FAQ

What are the best psychedelic stocks to buy?

What are the best psychedelic stocks to buy?

Are psychedelic stocks a good investment?

Are psychedelic stocks a good investment?

What is the forecast for psychedelic stocks?

What is the forecast for psychedelic stocks?

Are psychedelic stocks legal to invest in?

Are psychedelic stocks legal to invest in?

What drives growth in psychedelic stocks?

What drives growth in psychedelic stocks?

Is there an ETF for psychedelics?

Is there an ETF for psychedelics?