Definium rises as J.P. Morgan starts coverage with overweight rating on LSD-based therapy
DFTX•DFTX•DFTX•DFTX•J.P. Morgan initiated coverage of Definium Therapeutics with an overweight rating and an $84 price target. The brokerage estimates DT120 ODT could generate nearly $5 billion in combined sales by 2035 and expects an FDA application in the first half of 2027.
Definium shares rose 4.2% premarket after J.P. Morgan initiated coverage with an overweight rating and an $84 price target. The brokerage called DT120 ODT, an oral LSD formulation being developed for major depressive disorder and generalized anxiety disorder, a “derisked asset” based on data, and said it could help shift treatment in neuropsychiatric disorders.
J.P. Morgan expects a “milestone-rich” period ahead, including an application for FDA approval in the first half of 2027, and estimates DT120 ODT could generate nearly $5 billion in combined sales by 2035. The brokerage said macro changes could pose a risk to investment in the space but that it sees more pros than cons for Definium.
