B. Riley Financial Initiates Coverage on Compass Pathways (NASDAQ:CMPS)

Key Points

• B. Riley Financial initiated coverage on Compass Pathways with a "buy" rating and a $17.00 price target, implying roughly a 73.65% upside from the stock's recent price.
• Analyst views are mixed but generally positive: MarketBeat shows a consensus rating of “Moderate Buy” with an average price target of $21.11 and individual targets ranging roughly from $15 to $70.
• Compass is a clinical‑stage biotech developing psilocybin therapy (Phase IIb COMP360, Breakthrough Therapy designation) and reported a quarterly EPS loss of ($1.00) vs. ($0.41) expected, with analysts forecasting about -1.68 EPS for the fiscal year.

Analysts at B. Riley Financial initiated coverage on shares of Compass Pathways (NASDAQ:CMPS - Get Free Report) in a research report issued on Friday, MarketBeat.com reports. The firm set a "buy" rating and a $17.00 price target on the stock. B. Riley Financial's price target indicates a potential upside of 73.65% from the stock's current price.

CMPS has been the subject of several other reports. HC Wainwright lifted their price target on shares of Compass Pathways from $40.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, March 2nd. Lifesci Capital upgraded Compass Pathways to a "strong-buy" rating in a research note on Thursday, February 12th. Canaccord Genuity Group lowered their target price on Compass Pathways from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, March 26th. Morgan Stanley lowered their price objective on Compass Pathways from $18.00 to $16.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 25th. Finally, Compass Point set a $15.00 price target on Compass Pathways in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $21.11.

Compass Pathways Trading Up 11.9%

Shares of NASDAQ:CMPS opened at $9.79 on Friday. The stock has a market capitalization of $1.26 billion, a PE ratio of -2.96 and a beta of 2.01. Compass Pathways has a one year low of $2.25 and a one year high of $10.21. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.77 and a quick ratio of 0.77. The company's 50-day moving average price is $6.60 and its two-hundred day moving average price is $6.44.

Compass Pathways (NASDAQ:CMPS - Get Free Report) last released its quarterly earnings results on Tuesday, March 24th. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.59). On average, equities analysts forecast that Compass Pathways will post -1.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Compass Pathways

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. boosted its position in shares of Compass Pathways by 169.0% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 424,800 shares of the company's stock valued at $2,931,000 after buying an additional 266,908 shares during the last quarter. Simplify Asset Management Inc. purchased a new position in shares of Compass Pathways during the third quarter valued at approximately $1,662,000. Jefferies Financial Group Inc. bought a new position in Compass Pathways during the third quarter valued at approximately $7,890,000. Propel Bio Management LLC purchased a new stake in Compass Pathways in the third quarter worth approximately $2,922,000. Finally, Blue Owl Capital Holdings LP boosted its stake in shares of Compass Pathways by 163.1% in the 3rd quarter. Blue Owl Capital Holdings LP now owns 604,914 shares of the company's stock worth $3,466,000 after buying an additional 375,000 shares during the last quarter. Hedge funds and other institutional investors own 46.19% of the company's stock.

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.

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