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Top Psychedelics Stocks
As the year comes to a close, take a closer look at the top-performing psychedelics stocks throughout 2021.
Click here to read the previous top psychedelics stocks article.
Psychedelics investing has taken off as the industry's significant potential gains traction. However, 2021 didn’t prove to be a highlight-worthy year in the stock market.
In a recent interview with the Investing News Network (INN), James Halifax, host of the Psychedelic Investor YouTube channel, said he is encouraged by the growth of the market despite the lack of company gains.
“If you’re just zooming out and taking a look at the stock price, not taking in any more information, you would come along or come away with the perspective that, ‘Oh golly, it’s been an absolutely horrible year or six months for psychedelic stocks,’” Halifax told INN during the online conversation.
Here INN presents the top psychedelics stocks year-to-date for 2021. Data for this top psychedelics stocks article was collected on December 15, 2021, and companies had to meet a minimum market cap requirement of C$10 million. Companies listed on the Psychedelic Stock Index at the time of publication were considered.
Year-to-date gain: 109.41 percent; current market cap: US$140.55 million; current share price: US$1.78
In November, the company advanced its Psilonex RX psilocybin drug candidate into a clinical Phase 1 trial.
Calum Hughes, CEO and chairman of Allied, said the firm became interested in the medical benefits of psychedelic compounds and now wishes to support this candidate to reach a commercialization path.
2. Blackhawk Growth
Year-to-date gain: 55.56 percent; current market cap: C$24.15 million; current share price: C$0.56
Blackhawk Growth (CSE:BLR) is a Canada-based public investment fund with holdings in various markets.
When it comes to psychedelics, the firm has an interest in Trip Pharma, a research company focused on building a facility for growing psilocybin-producing mushrooms.
The company has also funded psychedelics trials from MindBio Therapeutics. A Phase 2 study that is now fully funded will be designed to “examine the effects of Psychedelic Microdosing Assisted Meaning Centred Psychotherapy in advanced stage cancer patients.”
3. GH Research
Year-to-date gain: 23.95 percent; current market cap: US$1.3 billion; current share price: US$24.23
GH Research (NASDAQ:GHRS) is a relative newcomer to the psychedelic industry. The company went public with the promise of developing the substance 5-MeO-DMT into a psychedelic treatment for patients with treatment-resistant depression; the treatment is currently dubbed GH001. As part of its Q3 financial report, the Irish drug maker indicated a net loss of US$1.8 million for the period ended on September 30.
The firm reported a critical advancement in its trial thanks to a successful Phase 2 trial for its candidate.
The psychedelics stock market has surely taken its lumps in 2021. This list reflects that reality with the fact that none of the top drug makers in the space made the cut.
The promise of a world with psychedelic drugs available in a medical environment has been enough to lift this industry, but yearly share price performance was a challenge this past year.
During a recent investment event, Steve Hawkins, president and CEO of Horizons ETFs Management (Canada), said 2020 offered a “fantastic” year for psychedelics investments, while 2021 was lackluster.
However, Hawkins and many other experts continue to point to the market's overall health and potential thanks to the revolutionary aspect of psychedelic medicine.
It remains to be seen how things will turn out for the stock market from the present up until the first real psychedelic drug approval takes place.
Want a more complete look at psychedelics companies? Click here for our list of psychedelics stocks to watch.
Don’t forget to follow us @INN_LifeScience for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
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Bryan is a Senior Editor with INN. After graduating from the Langara journalism program he did some freelance reporting with community newspapers in British Columbia. He initially wrote about the life science space for INN and now spends his time covering the marijuana market, from Canadian LPs to US-based companies, and the impact of this sector on investors.
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