Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) Stock Has Consensus Target Price of $23.36 According to Brokerages

Key Points

• Analysts remain broadly bullish: Compass Pathways has a “Moderate Buy” consensus from 17 brokerages, with 14 buy ratings and an average 12-month price target of $23.36 versus a recent price of $12.44.
• Shares have weakened and the company missed earnings expectations: CMPS was reported down 4.0%, while quarterly EPS of negative $1.88 fell short of the consensus estimate of negative $0.39.
• Institutional interest increased: Several investment firms initiated or expanded positions, and hedge funds and other institutional investors collectively own 46.19% of the stock. Compass is developing COMP360, a psilocybin-based therapy primarily targeting treatment-resistant depression.

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seventeen brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, fourteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $23.36.

A number of equities analysts recently issued reports on CMPS shares. Oppenheimer restated an "outperform" rating on shares of Compass Pathways in a report on Wednesday, August 5th. BTIG Research upped their target price on Compass Pathways from $14.00 to $25.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. B. Riley Financial increased their price target on Compass Pathways from $17.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Jefferies Financial Group reissued a "buy" rating on shares of Compass Pathways in a research note on Wednesday, September 9th. Finally, Morgan Stanley boosted their price objective on Compass Pathways from $17.00 to $18.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th.

Compass Pathways Stock Down 4.0%

CMPS stock opened at $12.44 on Thursday. The firm has a market cap of $1.72 billion, a PE ratio of -2.69 and a beta of 2.54. Compass Pathways has a 12 month low of $4.88 and a 12 month high of $15.87. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a 50 day simple moving average of $13.38 and a 200 day simple moving average of $11.21.

Compass Pathways (NASDAQ:CMPS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($1.49). Equities research analysts forecast that Compass Pathways will post -1.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vivo Capital LLC acquired a new stake in Compass Pathways during the 1st quarter valued at $1,106,000. Seven Fleet Capital Management LP lifted its holdings in shares of Compass Pathways by 295.1% in the first quarter. Seven Fleet Capital Management LP now owns 158,021 shares of the company's stock valued at $874,000 after purchasing an additional 118,021 shares in the last quarter. Orbimed Advisors LLC acquired a new stake in shares of Compass Pathways in the first quarter worth $6,363,000. Eversept Partners LP acquired a new stake in shares of Compass Pathways in the first quarter worth $3,749,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Compass Pathways by 49.1% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 368,828 shares of the company's stock valued at $2,040,000 after buying an additional 121,491 shares in the last quarter. 46.19% of the stock is owned by hedge funds and other institutional investors.

About Compass Pathways

Compass Pathways plc NASDAQ: CMPS is a biotechnology company developing novel treatments for mental health conditions. The company's primary focus is psilocybin therapy, which combines a proprietary investigational formulation with psychological support delivered by trained therapists.

Its lead candidate, COMP360, is a synthetic crystalline formulation of psilocybin being studied primarily for treatment-resistant depression. Compass Pathways has conducted mid- and late-stage clinical trials evaluating COMP360 and has also investigated its potential use in other difficult-to-treat psychiatric conditions, including post-traumatic stress disorder and anorexia nervosa.

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