Compass Pathways’ (CMPS) “Buy” Rating Reaffirmed at BTIG Research

Compass Pathways (NASDAQ:CMPS)‘s stock had its “buy” rating restated by investment analysts at BTIG Research in a research report issued on Tuesday, Benzinga reports. They currently have a $25.00 target price on the stock. BTIG Research‘s price target would indicate a potential upside of 175.21% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. HC Wainwright cut their price target on Compass Pathways from $70.00 to $65.00 and set a “buy” rating for the company in a report on Friday, August 7th. Royal Bank Of Canada dropped their price objective on shares of Compass Pathways from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Stifel Nicolaus increased their price objective on shares of Compass Pathways from $14.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Jefferies Financial Group reissued a “buy” rating on shares of Compass Pathways in a report on Wednesday, September 9th. Finally, Morgan Stanley increased their price objective on shares of Compass Pathways from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Compass Pathways presently has a consensus rating of “Moderate Buy” and an average target price of $23.36.

Compass Pathways Stock Performance

Shares of CMPS traded up $0.67 during mid-day trading on Tuesday, reaching $9.08. The company’s stock had a trading volume of 2,532,518 shares, compared to its average volume of 3,468,967. Compass Pathways has a 1-year low of $4.88 and a 1-year high of $15.87. The stock has a market cap of $1.26 billion, a P/E ratio of -1.97 and a beta of 2.55. The business has a 50-day simple moving average of $12.81 and a two-hundred day simple moving average of $10.39. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.60.

Compass Pathways (NASDAQ:CMPS) last issued its earnings results on Wednesday, November 4th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.08. As a group, equities research analysts anticipate that Compass Pathways will post -1.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Compass Pathways

A number of hedge funds have recently made changes to their positions in CMPS. Eagle Health Investments LP lifted its position in shares of Compass Pathways by 35.6% in the 1st quarter. Eagle Health Investments LP now owns 2,060,427 shares of the company’s stock worth $11,394,000 after purchasing an additional 541,039 shares during the period. Orbimed Advisors LLC acquired a new position in shares of Compass Pathways during the first quarter valued at about $6,363,000. Affinity Asset Advisors LLC boosted its position in shares of Compass Pathways by 454.2% during the 1st quarter. Affinity Asset Advisors LLC now owns 1,108,483 shares of the company’s stock worth $6,130,000 after purchasing an additional 908,483 shares in the last quarter. CenterBook Partners LP boosted its position in shares of Compass Pathways by 454.1% during the 3rd quarter. CenterBook Partners LP now owns 695,943 shares of the company’s stock worth $8,658,000 after purchasing an additional 570,349 shares in the last quarter. Finally, Eversept Partners LP acquired a new stake in shares of Compass Pathways in the 1st quarter valued at about $3,749,000. 46.19% of the stock is currently owned by institutional investors.

Compass Pathways Company Profile

Compass Pathways plc is a biotechnology company developing novel treatments for mental health conditions. The company’s lead investigational product is COMP360, a proprietary formulation of synthetic psilocybin administered with psychological support in a controlled clinical setting.

Compass Pathways has focused primarily on treatment-resistant depression, a condition in which patients do not respond adequately to existing therapies. Its research programs have included mid- and late-stage clinical trials designed to evaluate the safety and effectiveness of COMP360, as well as studies exploring its potential use in other mental health disorders.

Founded in 2016 and headquartered in London, Compass Pathways conducts research and clinical development activities across the United States, the United Kingdom and other international markets.