For several years, investors have been excited about the emergence and growth potential of cannabis stocks. What started as unabated enthusiasm for cannabis stocks has now calmed to strategic patience. Currently, many investors are waiting for the cannabis industry to mature before making more substantial investment decisions.
Related: What are the Top 3 Psychedelic Stocks to Buy Now?
Recently, however, a new alternative industry has opened up to investors, particularly those who aren’t averse to a bit of risk in exchange for taking an early position. I am talking about the psychedelics industry. But what are Cannin’s top 5 psychedelic stocks for 2021?
Psychedelics have become something of a miracle revelation to many in the pharmaceutical industry. In fact, researchers have found that psychedelics like psilocybin, LSD, DMT and many others may be more effective than conventional medicine in treating mental health issues like depression, PTSD, dementia and many others.
Related: Science Behind Using Psychedelics To Treat Mental Health and Addiction Is Compelling
This revelation has led to investors lining up to take their piece of the pie, which is expected to be worth USD $ 6.85 billion by 2027. With so much promise and growth potential, investors continue to struggle to find the best psychedelic stocks to buy. Psychedelics have been illegal since President Nixon’s war on drugs, and investors don’t know what would constitute a good or bad investment in this new industry. For this reason, Cannin.com has prepared this list of our top 5 psychedelic stocks for 2021:
Related: Psychedelic Decriminalization Creating Market Opportunities
What are Cannin’s Top 5 Psychedelic Stocks for 2021?
1. Compass Pathways PLC (NASDAQ: CMPS)
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First on our list is COMPASS Pathways which is a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health. Their focus is on providing effective alternative psychedelic therapies for those dealing with mental health issues but aren’t helped by conventional treatments. COMPASS is currently developing a psilocybin therapy, COMP360, which aimed at treating patients with Treatment-Resistant Depression (TRD).
Related: Cannin’s Top 3 Cannabis Stocks for July
Compass Pathways had a successful IPO in which it raised USD $146.6 million on the Nasdaq in 2020, and it also announced that it received two US patents for its psilocybin therapies. Compass Pathways is certainly one of the top 5 psychedelic stocks for 2021.
2. Field Trip Health Limited (OTC: FTRP)
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Field Trip Health makes the list as one of best psychedelic stocks for 2021 as the company is using cutting-edge therapies to change how depression is treated. They have pioneered a revolutionary ketamine-enhanced psychotherapy to treat anxiety, physical pain as well as depression.
This revolutionary approach has helped Field Trip Health open five locations in the United States as well as Toronto and Amsterdam. It is on the Canadian Securities Exchange, trading with the ticker symbol ‘FTRP.’ Field Trip Health intends to use Series B funds to finance its expansion across North America with the hope of making returns in the long run when the industry goes mainstream.
3. MindMeld (OTC: MNMD)
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MindMed has gone about its expansion a bit differently, choosing to build its asset portfolio as a way of reducing its leverage and exposure. Risk-averse investors should pay extra attention to it. It is building an IP portfolio and undertaking clinical trials of medicines based on psychedelics. MindMeld will also grow its pipeline through acquisitions, joint-Ventures, and collaborative development agreements. While a bit riskier than others, MindMed is one of the top psychedelic stocks to buy this year.
4. Tryp Therapeutics (OTC: TRYP)
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Unlike all the companies above that are using psychedelics to treat mental health issues, Tryp Therapeutics uses its psychedelic research to investigate diseases with a high unmet need for effective therapies like eating disorders, fibromyalgia among others. Tryp has a psilocybin-based therapy in a clinical trial for over-eating that they are developing in collaboration with Dr. Jennifer Miller – making it one of the top psychedelic stocks to watch in 2021.
5. Cybin Inc. (NEO: CYBN)
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Rounding out the list is at number 5, Cybin Inc. is a life sciences company advancing psychedelic pharmaceutical treatments for various psychiatric and neurological conditions. Cybin is developing technologies and delivery systems to improve bioavailability to achieve the desired effects of psychedelics at low dosage levels. The new delivery systems are expected to be studied through clinical trials to confirm safety and efficacy.
Cybin recently announced a Bought Deal Offering with Cannacord Genuity Corp in which they were able to raise USED $30 million to help them continue their clinical trials. Hence, all potential investors know that it is reasonably liquid compared to others in the industry.
Cannin’s Top 5 Psychedelic Stocks for 2021
Cannin Investment Group: Your Psychedelic Stocks Experts
Cannin.com is your trusted resource for psychedelic stocks. Our team of financial experts evaluates all emerging psychedelic stock investing opportunities. We aggregate hundreds of hours of market research to provide tips on the best psychedelic stocks for 2021.
Is it too late to invest in psychedelic stocks? No! This is the perfect time to invest.
In fact, Wall Street analysts expect the global psychedelic industry to have an annual value exceeding $7 Billion in the next 6 years. The time to invest in psychedelic stocks is now.
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