Benzinga | Sep 1, 2021 03:44PM EDT

Why Field Trip Health Shares Are Trading Higher Today

Field Trip Health (NSADAQ: FTRP) shares are trading higher after HC Wainwright & Co initiated coverage on the stock with a Buy rating and a $20 price target. The firm said it finds the company's valuation 'compelling' ahead of the anticipated Phase 1 top-line data on FT-104, saying it could be a 'disruptive psilocybin-like treatment.'

ield Trip Health Ltd is engaged in the development and delivery of psychedelic therapies. Its operating segments include Clinical Operations, Research, and Corporate.

At the time of publication, shares were trading 6.7% higher at $5.13.