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.
Several of these drugmakers are publicly traded and are receiving increased attention from investors. We've seen a similar phenomenon with marijuana stocks over the past several years. Cannabis was once on the fringe but is now a significant and growing industry.
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.
Best psychedelic stocks
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:
| Name and ticker | Market cap | Dividend yield | Industry |
|---|---|---|---|
| AtaiBeckley (NASDAQ:ATAI) | $1.4 billion | 0.00% | Pharmaceuticals |
| Compass Pathways Plc (NASDAQ:CMPS) | $644.2 million | 0.00% | Biotechnology |
| Cybin (NASDAQ:HELP) | $355.7 million | 0.00% | Pharmaceuticals |
| Definium Therapeutics (NASDAQ:DFTX) | $1.3 billion | 0.00% | Pharmaceuticals |
| GH Research (NASDAQ:GHRS) | $996.2 million | 0.00% | Pharmaceuticals |
1. AtaiBeckley
NASDAQ: ATAI
Key Data Points
With prominent backing from venture capitalists, including billionaire Peter Thiel, it's unsurprising that AtaiBeckley (ATAI -0.78%)(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 (OTSK.Y +0.98%) 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.
2. Compass Pathways
NASDAQ: CMPS
Key Data Points
Compass Pathways' (CMPS +1.27%) 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.
3. Helus Pharma (formerly Cybin)
NASDAQ: HELP
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4. Definium Therapeutics (formerly Mind Medicine)
NASDAQ: DFTX
Key Data Points
5. GH Research
NASDAQ: GHRS
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Benefits and risks of investing in psychedelic stocks
None of the five psychedelic drugmakers has approved therapies on the market yet. There is a risk that pipeline candidates will be unsuccessful in clinical testing. Even if the drugs prove safe and effective in clinical studies and win regulatory approvals, it's still possible they won't achieve commercial success.
Also, none of the companies has reached profitability yet. They might need to raise additional capital through stock offerings that dilute the value of existing shares.
On the other hand, there are reasons to be optimistic about the potential for psychedelic substances in treating various neurological and psychological disorders. It's still early days, but any or all of these leading pharmaceutical stocks could become big winners over the next few years.
How to invest in psychedelic stocks
Follow these steps to invest in psychedelic stocks:
- Open your brokerage app: Log in to your brokerage account where you handle your investments.
- Search for the stock: Enter the ticker or company name 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.
Tips for investing in psychedelic stocks
If you want to invest in psychedelic stocks, consider taking these actions:
- Start with a small investment to reduce your risk.
- Make sure your portfolio is well diversified.
- Evaluate the psychedelic companies' financial positions.
- Research the psychedelic companies' pipelines.
- Stay abreast of regulatory changes that could impact psychedelic therapies.
FAQ
Investing in psychedelic stocks: FAQ
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