COMPASS Pathways (NASDAQ:CMPS) Price Target Raised to $14.00 at BTIG Research

Key Points

• BTIG Research has raised its price target for COMPASS Pathways from $7.00 to $14.00, indicating a potential upside of 119.61% from the stock's previous close.
• The stock currently holds a consensus rating of "Moderate Buy" with seven buy ratings, one hold rating, and one sell rating, alongside an average target price of $16.00.
• COMPASS Pathways is developing COMP360, a psilocybin therapy, which is undergoing Phase III clinical trials for treatment-resistant depression, as well as trials for other conditions like PTSD and anorexia nervosa.

COMPASS Pathways (NASDAQ:CMPS - Get Free Report) had its target price increased by investment analysts at BTIG Research from $7.00 to $14.00 in a research note issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. BTIG Research's price target points to a potential upside of 119.61% from the stock's previous close.

CMPS has been the topic of several other reports. Evercore ISI reaffirmed an "in-line" rating and set a $6.00 price objective (down from $11.00) on shares of COMPASS Pathways in a research note on Monday, June 23rd. Canaccord Genuity Group reaffirmed a "buy" rating and set a $15.00 price objective on shares of COMPASS Pathways in a research note on Friday, August 1st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of COMPASS Pathways in a research note on Wednesday, October 8th. Finally, HC Wainwright decreased their price objective on shares of COMPASS Pathways from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $16.00.

COMPASS Pathways Price Performance

NASDAQ CMPS traded up $0.16 on Monday, reaching $6.38. The company's stock had a trading volume of 657,742 shares, compared to its average volume of 1,795,249. The firm has a market cap of $611.62 million, a PE ratio of -3.48 and a beta of 2.21. The business has a 50-day moving average price of $5.03 and a 200 day moving average price of $4.21. COMPASS Pathways has a 52 week low of $2.25 and a 52 week high of $6.75. The company has a current ratio of 8.82, a quick ratio of 8.82 and a debt-to-equity ratio of 0.16.

COMPASS Pathways (NASDAQ:CMPS - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported ($0.38) earnings per share for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.01). Sell-side analysts expect that COMPASS Pathways will post -2.33 EPS for the current year.

Hedge Funds Weigh In On COMPASS Pathways

Several large investors have recently bought and sold shares of CMPS. Nantahala Capital Management LLC lifted its holdings in COMPASS Pathways by 182.9% in the first quarter. Nantahala Capital Management LLC now owns 2,829,232 shares of the company's stock valued at $8,092,000 after buying an additional 1,829,232 shares during the period. Vivo Capital LLC lifted its holdings in COMPASS Pathways by 109.1% in the first quarter. Vivo Capital LLC now owns 3,362,385 shares of the company's stock valued at $9,616,000 after buying an additional 1,754,385 shares during the period. Woodline Partners LP lifted its holdings in COMPASS Pathways by 279.9% in the first quarter. Woodline Partners LP now owns 1,754,856 shares of the company's stock valued at $5,019,000 after buying an additional 1,292,927 shares during the period. Hsbc Holdings PLC acquired a new stake in COMPASS Pathways in the second quarter worth $3,011,000. Finally, Driehaus Capital Management LLC acquired a new stake in COMPASS Pathways in the first quarter worth $2,007,000. 46.19% of the stock is currently owned by institutional investors and hedge funds.

About COMPASS Pathways

COMPASS Pathways plc operates as a mental health care company in the United Kingdom and the United States. It develops COMP360, a psilocybin therapy that is in Phase III clinical trials for the treatment of treatment-resistant depression; and is in Phase II clinical trials for the treatment of post-traumatic stress disorder and anorexia nervosa.

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