Compass Pathways (NASDAQ:CMPS) Earns "Buy" Rating from HC Wainwright

Key Points

• HC Wainwright reaffirmed a "Buy" on Compass Pathways with an aggressive $70 price target, while overall analyst coverage includes 1 Strong Buy, 7 Buy, 1 Hold and 1 Sell, producing a consensus "Moderate Buy" and a consensus price target of $20.70.
• Shares trade near $8.89 with a $1.15 billion market cap, and the company reported Q1 EPS of -$1.00 (missing the -$0.41 estimate) with analysts forecasting -1.68 EPS for the fiscal year, highlighting ongoing negative earnings and clinical-stage risk.
• Institutional investors own about 46.19% of the stock, with recent large purchases and position increases by firms including Toronto Dominion Bank, Nantahala Capital and Jefferies, indicating notable institutional interest.

Compass Pathways (NASDAQ:CMPS - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at HC Wainwright in a report released on Tuesday,Benzinga reports. They currently have a $70.00 price objective on the stock.

A number of other research firms have also issued reports on CMPS. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Compass Pathways in a report on Monday, April 20th. Morgan Stanley dropped their target price on shares of Compass Pathways from $18.00 to $16.00 and set an "overweight" rating for the company in a report on Wednesday, March 25th. Lifesci Capital raised shares of Compass Pathways to a "strong-buy" rating in a report on Thursday, February 12th. Canaccord Genuity Group dropped their target price on shares of Compass Pathways from $20.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, March 26th. Finally, Royal Bank Of Canada upped their target price on shares of Compass Pathways from $21.00 to $22.00 and gave the stock an "outperform" rating in a report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Compass Pathways presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.70.

Compass Pathways Price Performance

Shares of NASDAQ CMPS opened at $8.89 on Tuesday. The firm has a market cap of $1.15 billion, a PE ratio of -2.88 and a beta of 2.01. The firm has a fifty day moving average of $6.74 and a 200 day moving average of $6.48. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.77 and a current ratio of 0.77. Compass Pathways has a one year low of $2.25 and a one year high of $10.21.

Compass Pathways (NASDAQ:CMPS - Get Free Report) last issued its quarterly earnings results on Tuesday, March 24th. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.59). As a group, research analysts predict that Compass Pathways will post -1.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CMPS. Toronto Dominion Bank lifted its position in Compass Pathways by 152.9% in the fourth quarter. Toronto Dominion Bank now owns 2,529,013 shares of the company's stock valued at $17,447,000 after buying an additional 1,529,013 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in Compass Pathways in the third quarter valued at about $7,890,000. Nantahala Capital Management LLC lifted its position in Compass Pathways by 47.7% in the second quarter. Nantahala Capital Management LLC now owns 4,179,930 shares of the company's stock valued at $11,704,000 after buying an additional 1,350,698 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in Compass Pathways in the third quarter valued at about $6,926,000. Finally, Siren L.L.C. acquired a new position in Compass Pathways in the fourth quarter valued at about $6,900,000. Institutional investors and hedge funds own 46.19% of the company's stock.

About Compass Pathways

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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