Compass Pathways (NASDAQ:CMPS) Given New $18.00 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity lowered its price target for Compass Pathways from $20 to $18 but maintained a "buy" rating, saying the target still implies a potential upside of 212.61% from the stock's current price.
• Analyst consensus is a "Moderate Buy" with an average target of $21.63, though ratings and targets vary widely (one Strong Buy, six Buy, one Hold, one Sell) and individual price targets reach as high as $70.
• CMPS traded at $5.76 (up ~2.5%) with a market cap around $553M, recently missed quarterly EPS (‑$0.59 vs. ‑$0.39 estimate), and remains a clinical‑stage biotech developing the COMP360 psilocybin therapy in a Phase IIb trial for treatment‑resistant depression.

Compass Pathways (NASDAQ:CMPS - Get Free Report) had its price objective reduced by equities research analysts at Canaccord Genuity Group from $20.00 to $18.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's target price indicates a potential upside of 212.61% from the stock's current price.

CMPS has been the subject of several other research reports. Royal Bank Of Canada increased their price objective on shares of Compass Pathways from $21.00 to $22.00 and gave the company an "outperform" rating in a research report on Wednesday, February 18th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Compass Pathways in a research report on Wednesday, January 21st. Lifesci Capital upgraded shares of Compass Pathways to a "strong-buy" rating in a research note on Thursday, February 12th. Compass Point set a $15.00 price objective on Compass Pathways in a research note on Thursday, February 12th. Finally, HC Wainwright increased their price objective on shares of Compass Pathways from $40.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $21.63.

Compass Pathways Trading Up 2.5%

CMPS stock traded up $0.14 during midday trading on Thursday, reaching $5.76. 609,972 shares of the company's stock traded hands, compared to its average volume of 2,969,010. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.23 and a quick ratio of 1.23. Compass Pathways has a fifty-two week low of $2.25 and a fifty-two week high of $8.90. The business has a 50-day moving average price of $6.74 and a two-hundred day moving average price of $6.30. The company has a market capitalization of $552.88 million, a P/E ratio of -1.86 and a beta of 1.90.

Compass Pathways (NASDAQ:CMPS - Get Free Report) last released its quarterly earnings data on Tuesday, March 24th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.20). Equities research analysts forecast that Compass Pathways will post -2.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Compass Pathways

Several hedge funds and other institutional investors have recently made changes to their positions in CMPS. RTW Investments LP raised its stake in shares of Compass Pathways by 0.6% in the 4th quarter. RTW Investments LP now owns 8,757,390 shares of the company's stock worth $60,426,000 after buying an additional 50,000 shares in the last quarter. Nantahala Capital Management LLC grew its holdings in Compass Pathways by 47.7% during the second quarter. Nantahala Capital Management LLC now owns 4,179,930 shares of the company's stock worth $11,704,000 after acquiring an additional 1,350,698 shares during the period. Millennium Management LLC grew its holdings in Compass Pathways by 39.9% during the third quarter. Millennium Management LLC now owns 2,715,872 shares of the company's stock worth $15,562,000 after acquiring an additional 774,090 shares during the period. Toronto Dominion Bank raised 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 worth $17,447,000 after acquiring an additional 1,529,013 shares in the last quarter. Finally, ARK Investment Management LLC lifted its holdings in Compass Pathways by 1.6% in the 4th quarter. ARK Investment Management LLC now owns 2,156,012 shares of the company's stock valued at $14,876,000 after acquiring an additional 34,894 shares during the last quarter. 46.19% of the stock is currently owned by institutional investors and hedge funds.

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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