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, Cybin, GH Research, and Mind Medicine.

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. Data Bridge Market Research projects that the global psychedelic market will increase by a compound annual growth rate of 13.3% through 2032 to about $8.3 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. They include:Positive clinical trial resultsRegulatory approvalsMergers and acquisitionsIncreased interest from institutional investorsGreater public acceptance of psychedelic therapies

5 Psychedelic Stocks to Buy Now

Best Psychedelic Stocks to Buy in 2026

By Keith Speights – Updated Feb 5, 2026 at 12:05 PM EST | Fact-checked by Frank Bass

Key Points

Psychedelic stocks focus on hallucinogens to treat diseases like depression.
Major companies in this sector include AtaiBeckley and Compass Pathways.
Investors can buy shares via a brokerage, with risks due to clinical success uncertainties.

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.

Whether you call them magic mushroom stocks, 'shroom stocks, or psilocybin stocks, psychedelic stocks are hot right now. Let's explore five of the best publicly traded psychedelic companies on the market today.

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Ticker Information Table
Name and ticker	Market cap	Dividend yield	Industry
AtaiBeckley (NASDAQ:ATAI)	$1.3 billion	0.00%	Pharmaceuticals
Compass Pathways Plc (NASDAQ:CMPS)	$673.9 million	0.00%	Biotechnology
Cybin (NASDAQ:HELP)	$380.8 million	0.00%	Pharmaceuticals
Definium Therapeutics (NASDAQ:DFTX)	$1.7 billion	0.00%	Pharmaceuticals
GH Research (NASDAQ:GHRS)	$993.1 million	0.00%	Pharmaceuticals

Data as of Mar 3, 2026. Showing 5 of 5 tickers.

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NASDAQ: ATAI

AtaiBeckley

Today's Change

(1.65%) $0.06

Current Price

$3.69

Key Data Points

Market Cap

$1.3B

Day's Range

$3.48 - $3.78

52wk Range

$1.15 - $6.75

Volume

800

Avg Vol

3.9M

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With prominent backing from venture capitalists, including billionaire Peter Thiel, it's unsurprising that AtaiBeckley (ATAI +1.65%)(formerly known as Atai Life Sciences) ranks as one of the biggest biotech stocks focused on psychedelic drugs. Founded in 2018, the company 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 expects to announce 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 (OTC:OTSK.Y) to develop R-ketamine for treating depression. It's the first major collaboration between a psychedelic-focused biotech and a big pharma company. Atai is also a major shareholder in Compass Pathways, the next psychedelic drugmaker we'll look at in this list.

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2. Compass Pathways

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NASDAQ: CMPS

Compass Pathways Plc

Today's Change

(1.81%) $0.13

Current Price

$7.03

Key Data Points

Market Cap

$674M

Day's Range

$6.66 - $7.19

52wk Range

$2.25 - $8.90

Volume

1.4K

Avg Vol

2.6M

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Compass Pathways' (CMPS +1.81%) roots go back to 2015, when George Goldsmith and Ekaterina Malievskaia founded a 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.

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3. Helus Pharma (formerly Cybin)

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NASDAQ: HELP

Cybin

Today's Change

(3.88%) $0.28

Current Price

$7.63

Key Data Points

Market Cap

$381M

Day's Range

$7.13 - $7.73

52wk Range

$4.81 - $9.83

Avg Vol

666K

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Founded in 2019, Cybin (HELP +3.88%) 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. 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 is evaluating HLP004 in a Phase 2 study targeting generalized anxiety disorder, with results expected in the first quarter of 2026.

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NASDAQ: DFTX

Definium Therapeutics

Today's Change

(-1.46%) $-0.26

Current Price

$17.20

Key Data Points

Market Cap

$1.7B

Day's Range

$16.77 - $17.62

52wk Range

$4.70 - $18.70

Avg Vol

1.9M

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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 -1.46%). The company also changed its stock ticker to DFTX, reflecting 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. The company plans to announce results from one of these studies in the first half of 2026, with results from the other study expected in the second half of 2026.

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.

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5. GH Research

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NASDAQ: GHRS

GH Research

Today's Change

(7.81%) $1.16

Current Price

$16.01

Key Data Points

Market Cap

$993M

Day's Range

$14.42 - $16.20

52wk Range

$7.98 - $19.51

Volume

Avg Vol

376K

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GH Research (GHRS +7.81%) 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 in treating psychiatric or neurological disorders. It's working to advance the experimental drug into the next stage of clinical testing.

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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.

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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.