Definium Therapeutics

DFTX · NASDAQ

$35.09+$2.12 (+6.43%)TodayMarket closed · Oct 20, 7:56 PM ET

Prev close $32.97

DFTX analyst rating

BuyConsensus of 16 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy16
Hold0
Underperform0
Sell0

12-month price target · 19 analysts

Average $73.32 (+108.9% upside)

Low: $55.55
Now: $35.09
High: $95.55

Upgrades and downgrades

The latest rating actions, newest first

DFTX analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
JP Morgan	Oct 9, 2026	Initiates	Overweight	$84.00	—
Canaccord Genuity	Sep 15, 2026	Maintains	Buy	$64.00 → $78.00	42%
Baird	Sep 15, 2026	Maintains	Outperform	$75.00 → $79.00	0%
HC Wainwright & Co.	Sep 14, 2026	Maintains	Buy	$70.00	33%
Needham	Sep 14, 2026	Maintains	Buy	$66.00	47%
RBC Capital	Sep 11, 2026	Maintains	Outperform	$66.00	44%
B of A Securities	Aug 18, 2026	Initiates	Buy	$75.00	45%
Maxim Group	Aug 14, 2026	Maintains	Buy	$50.00 → $55.00	—
Jones Trading	Aug 13, 2026	Maintains	Buy	$74.00 → $90.00	44%
Canaccord Genuity	Aug 13, 2026	Maintains	Buy	$58.00 → $64.00	42%

The case for and against

Updated Oct 18, 2026

Bull case

Definium Therapeutics is viewed favorably because its lead asset DT120 has generated a consistent body of positive clinical data, including strong Phase 2 support and three Phase 3 wins across GAD and MDD, with the latest PANORAMA readout meeting the primary endpoint and all key secondary endpoints. The drug’s rapid, durable efficacy, clean safety profile, and high rates of session clearance by Hour 8 strengthen both regulatory confidence and the commercial case, while the FDA Breakthrough Therapy Designation and pre-NDA meeting expected in 4Q26 reduce development risk. With a TAM above $12B across GAD and MDD and management preparing commercial operations ahead of a potential launch, the company appears positioned for meaningful long-term value creation if approval follows.

Bear case

Definium Therapeutics is viewed negatively because its value rests heavily on DT120’s unproven late-stage profile, with success still dependent on 75% and 80% probabilities in GAD and MDD, respectively, despite four Phase 3 trials and FDA Breakthrough Therapy Designation. The company also faces substantial execution risk from regulatory approval, DEA rescheduling, manufacturing scale-up, commercialization, reimbursement, and potential safety or efficacy setbacks, any of which could materially impair the thesis. Its intellectual property moat appears limited because a composition-of-matter patent for LSD is not expected, leaving it reliant on regulatory exclusivity while capital constraints and an inability to fund operations without commercial products heighten dilution risk.

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