Compass Pathways (NASDAQ:CMPS) Releases Earnings Results, Beats Estimates By $0.15 EPS

Compass Pathways (NASDAQ:CMPS) posted its earnings results on Wednesday. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.15, FiscalAI reports.

Here are the key takeaways from Compass Pathways’ conference call:

• COMPASS said it has now reported positive Phase III data from both pivotal TRD studies, with COMP360 showing rapid onset and durable efficacy across a program of more than 1,000 patients.
• The company reiterated it is launch-ready by year-end and has begun its rolling NDA submission, with the final expected dataset from COMP006 Part B due in early Q3.
• Management highlighted the Commissioner’s National Priority Voucher as a potential acceleration tool, and said it is working closely with FDA and DEA to compress review and rescheduling timelines as much as possible.
• COMPASS said its commercial readiness is advancing quickly, including a growing sales organization, payer engagement, and state/federal access planning; it also expects the existing CPT III reimbursement codes to support provider monitoring costs.
• Beyond TRD, the company is moving ahead with a late-stage PTSD program, which it plans to run as a single registration trial, while also exploring broader future opportunities in other neuropsychiatric disorders.

Compass Pathways Trading Up 17.0%

CMPS traded up $1.59 during trading on Wednesday, reaching $10.96. The company had a trading volume of 8,626,653 shares, compared to its average volume of 3,550,330. The stock has a market cap of $1.41 billion, a P/E ratio of -3.55 and a beta of 2.39. The business has a 50 day simple moving average of $7.01 and a 200-day simple moving average of $6.65. Compass Pathways has a 52 week low of $2.25 and a 52 week high of $11.08. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.55.

Institutional Trading of Compass Pathways

A number of institutional investors have recently bought and sold shares of CMPS. Persistent Asset Partners Ltd bought a new stake in Compass Pathways in the fourth quarter worth $38,000. Advisory Services Network LLC bought a new stake in Compass Pathways in the third quarter worth $41,000. Northeast Financial Consultants Inc bought a new stake in Compass Pathways in the second quarter worth $59,000. MML Investors Services LLC purchased a new stake in Compass Pathways in the fourth quarter worth $69,000. Finally, Raymond James Financial Inc. increased its stake in Compass Pathways by 82.7% in the third quarter. Raymond James Financial Inc. now owns 13,763 shares of the company’s stock worth $79,000 after purchasing an additional 6,228 shares during the period. 46.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on CMPS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Compass Pathways in a research report on Monday, April 20th. UBS Group set a $18.00 target price on Compass Pathways in a research report on Thursday, May 7th. Compass Point set a $15.00 target price on Compass Pathways in a research report on Thursday, February 12th. Royal Bank Of Canada increased their target price on Compass Pathways from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Finally, Jefferies Financial Group upgraded Compass Pathways to a “strong-buy” rating in a research report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.55.

Compass Pathways Company Profile

Compass Pathways (NASDAQ: CMPS) is a clinical-stage biotechnology company focused on the development and commercialization of psilocybin therapy for mental health disorders. Founded in 2016 and headquartered in London with additional offices in the United States, Compass Pathways is pioneering the use of synthetic psilocybin combined with psychotherapy to address treatment-resistant depression. The company’s flagship program is a Phase IIb clinical trial evaluating COMP360, its proprietary psilocybin formulation, which has received Breakthrough Therapy designation from the U.S.