COMPASS Pathways (NASDAQ:CMPS) Stock Rating Upgraded by Zacks Investment Research

COMPASS Pathways (NASDAQ:CMPS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Zacks.com reports. The firm presently has a $42.00 price target on the stock. Zacks Investment Research‘s target price points to a potential upside of 13.12% from the company’s current price.

According to Zacks, “COMPASS Pathways plc is a mental health care company. It operates principally in New York, USA. COMPASS Pathways plc is headquartered in London, UK. “

Other analysts also recently issued reports about the stock. HC Wainwright increased their price objective on shares of COMPASS Pathways from $65.00 to $100.00 and gave the company a “positive” rating in a research report on Thursday, July 1st. Berenberg Bank restated a “buy” rating and set a $50.00 target price on shares of COMPASS Pathways in a research note on Monday, June 28th. Cantor Fitzgerald assumed coverage on shares of COMPASS Pathways in a research note on Tuesday, May 11th. They set an “overweight” rating and a $71.00 target price on the stock. Citigroup assumed coverage on shares of COMPASS Pathways in a research note on Tuesday, July 13th. They set a “buy” rating and a $67.00 target price on the stock. Finally, Roth Capital assumed coverage on shares of COMPASS Pathways in a research note on Thursday, April 1st. They set a “buy” rating and a $88.00 target price on the stock. Ten research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average target price of $71.00.

Shares of CMPS stock opened at $37.13 on Wednesday. COMPASS Pathways has a one year low of $22.51 and a one year high of $61.69. The company’s 50-day moving average price is $35.84.

COMPASS Pathways (NASDAQ:CMPS) last announced its quarterly earnings data on Wednesday, May 12th. The company reported ($0.35) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.49) by $0.14. As a group, equities analysts predict that COMPASS Pathways will post -1.45 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of CMPS. Wells Fargo & Company MN lifted its stake in shares of COMPASS Pathways by 468.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,991 shares of the company’s stock worth $95,000 after purchasing an additional 1,641 shares during the period. Founders Fund VII Management LLC bought a new position in shares of COMPASS Pathways in the 4th quarter worth approximately $26,572,000. Alyeska Investment Group L.P. lifted its stake in shares of COMPASS Pathways by 12.9% in the 4th quarter. Alyeska Investment Group L.P. now owns 85,803 shares of the company’s stock worth $4,088,000 after purchasing an additional 9,789 shares during the period. Squarepoint Ops LLC bought a new position in shares of COMPASS Pathways in the 4th quarter worth approximately $486,000. Finally, Virtu Financial LLC bought a new position in shares of COMPASS Pathways in the 4th quarter worth approximately $556,000. Hedge funds and other institutional investors own 11.20% of the company’s stock.

COMPASS Pathways Company Profile

COMPASS Pathways plc operates as a mental health care company in the United Kingdom and the United States. It develops COMP360, a psilocybin formulation that is in Phase IIb clinical trial to treat patients with treatment-resistant depression. The company was formerly known as COMPASS Rx Limited and changed its name to COMPASS Pathways plc in August 2020.

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Analyst Recommendations for COMPASS Pathways (NASDAQ:CMPS)

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