Sunday, October 19, 2025

Latest

Eight Capital Initiates Coverage On Field Trip Health With $10.20 Price Target

Earlier this week, Eight Capital launched coverage on a basket of psychedelic companies. This comes after they produced an industry primer during the summer months. The third company on this list is Field Trip Health (CSE: FTRP) with a C$10.20 12-month price target and buy rating.

Field Trip Health currently has 3 analysts covering the stock with an average 12-month price target of C$16.24. or 182% upside. All 3 analysts have buy ratings. The street high sits at C$20.71 while the lowest comes in at C$10.

Eight Capital says that Field Trip operates in 2 sub-categories of the psychedelic space with one segment focused on providing psychedelic-assisted therapies, while the second segment is a drug development pipeline. The company currently has 7 sites but is expected to expand to 20 that are either in operation or under construction by the end of this year, while having a target of 75 locations by 2024.

Eight Capital calls 2022 a key inflection point for the company as, “there is more demand for healthcare services related to mental health, as 40% of adults reported mental health challenges like depression and anxiety this past year.” Additionally, with major pipeline catalysts coming out of the psychedelic sector in 2022, Field Trip will ultimately benefit from more psychedelic-treatment options coming available.

They also believe that the company’s clinics are differentiated from peers who are doing similar work, since they are focusing on the patient’s mindset and environmental setting to help improve outcomes. They say, “We believe current clinics networks are mostly focused on only administering ketamine treatments, and as a result, clinics do not have the resources, to adequately prepare the patient’s mindset prior to and during infusions.” While Field Trip’s clinics are purposed built with in-house therapists help to set the mindset and setting.

Eight Capital believes that Field Trip is developing the next-generation derivatives of psychedelics. The companies keystone drug is FT-104, which was “developed as an improvement upon the shortcomings of existing psychedelic drugs,” with this drug “trip” time be shorter than the 3-8 hour long timeframe for Ketamine. The company plans to have this drug in a phase 1 trial in the first quarter of 2022 and Eight Capital estimates that it comes to market starting in 2028.

Below you can see the catalysts Eight Capital is looking out for.


Information for this briefing was found via Sedar and Refinitiv. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

When 4% of Global Copper Disappears Overnight | David Gower – Emerita Resources

Mining M&A: Gold X2 Acquires Kesselrun Resources

They Said Oil Was Dead. They Were Wrong. | Michael Judson – Record Resources

Recommended

Military Seizes Power in Madagascar After President Flees

Altamira Gold Hits 395.5 Metres Of 0.4 g/t Gold At Maria Bonita

Related News

Medmen: Canaccord Raises Price Target, Rating After Q4 Performance

On September 23, Medmen Enterprises (CSE: MMEN) reported their fiscal fourth-quarter financial results. The company...

Saturday, September 25, 2021, 01:05:00 PM

Trulieve: Canaccord Raises Price Target From $45 To $51

Last week, Trulieve Cannabis (CSE: TRUL) announced that they are acquiring two Pennsylvania companies, PurePen...

Tuesday, September 22, 2020, 02:45:00 PM

Canopy: BofA Slashes Price Target To $19

On November 19th, Bank Of America terminated coverage on Tilray and Aurora Cannabis citing a...

Saturday, November 27, 2021, 12:43:00 PM

Canaccord Reiterates $70 Price Target On Ayr Wellness Following New Jersey Acquisition

On September 16, Ayr Wellness (CSE: AYR.a) closed their Garden State Dispensary acquisition, a New...

Tuesday, September 21, 2021, 03:42:00 PM

Galaxy Digital Sees BMO Slash Price Target From $35 To $24

Galaxy Digital (TSX: GLXY) reported its first quarter financial results on Monday. The company said...

Thursday, May 12, 2022, 04:33:00 PM