Compass Pathways (NASDAQ:CMPS) Stock Rating Reaffirmed as Buy by BTIG Research

Key Points

• BTIG Research reaffirmed its Buy rating on Compass Pathways and set a $25 price target, implying 175.21% upside from the prior close.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $23.36; ratings include 14 Buys, one Strong Buy, one Hold and one Sell.
• CMPS shares traded at $9.08, while institutional investors own 46.19% of the company. Compass Pathways is developing COMP360, a synthetic psilocybin treatment aimed primarily at treatment-resistant depression.

Compass Pathways (NASDAQ:CMPS - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at BTIG Research in a report released on Tuesday, Benzinga reports. They presently have a $25.00 target price on the stock. BTIG Research's target price would indicate a potential upside of 175.21% from the company's previous close.

Several other research analysts also recently issued reports on CMPS. HC Wainwright reduced their price target on shares of Compass Pathways from $70.00 to $65.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Evercore upgraded shares of Compass Pathways from an "in-line" rating to an "outperform" rating and set a $21.00 price objective for the company in a research report on Wednesday, July 8th. Wall Street Zen downgraded shares of Compass Pathways from a "sell" rating to a "strong sell" rating in a research note on Saturday. Wolfe Research reiterated an "outperform" rating on shares of Compass Pathways in a research report on Tuesday, July 7th. Finally, B. Riley Financial increased their price target on shares of Compass Pathways from $17.00 to $22.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $23.36.

Compass Pathways Price Performance

CMPS stock traded up $0.67 during trading on Tuesday, hitting $9.08. 2,532,518 shares of the stock traded hands, compared to its average volume of 3,468,967. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.60. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -1.97 and a beta of 2.55. Compass Pathways has a one year low of $4.88 and a one year high of $15.87. The company has a 50 day simple moving average of $12.81 and a 200 day simple moving average of $10.39.

Compass Pathways (NASDAQ:CMPS - Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.39) by $0.08. Equities analysts expect that Compass Pathways will post -1.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Eagle Health Investments LP increased 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 valued at $11,394,000 after buying an additional 541,039 shares in the last quarter. Orbimed Advisors LLC bought a new position in shares of Compass Pathways during the 1st quarter worth approximately $6,363,000. Affinity Asset Advisors LLC increased its stake in Compass Pathways by 454.2% in the 1st quarter. Affinity Asset Advisors LLC now owns 1,108,483 shares of the company's stock valued at $6,130,000 after buying an additional 908,483 shares during the last quarter. CenterBook Partners LP raised its holdings in Compass Pathways by 454.1% during the third quarter. CenterBook Partners LP now owns 695,943 shares of the company's stock worth $8,658,000 after acquiring 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 approximately $3,749,000. Institutional investors own 46.19% of the company's stock.

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.

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