Jefferies Financial Group Upgrades Compass Pathways (NASDAQ:CMPS) to Strong-Buy

Key Points

• Jefferies upgraded Compass Pathways (NASDAQ:CMPS) to a Strong-Buy, adding to a slate of bullish analyst calls on the biotech.
• MarketBeat shows a consensus rating of Moderate Buy with an average price target of $20.45, based on 2 Strong Buy, 7 Buy, 1 Hold and 1 Sell ratings.
• Shares opened at $9.32 with a market cap of about $1.2B; the company reported a Q loss (EPS -$1.00 vs. -$0.41 est.) while institutional investors have materially increased positions (institutional ownership ~46.2%).

Compass Pathways (NASDAQ:CMPS - Get Free Report) was upgraded by Jefferies Financial Group to a "strong-buy" rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms also recently commented on CMPS. Compass Point set a $15.00 price objective on shares of Compass Pathways in a report on Thursday, February 12th. B. Riley Financial assumed coverage on shares of Compass Pathways in a report on Friday, April 24th. They issued a "buy" rating and a $17.00 target price for the company. HC Wainwright reissued a "buy" rating and set a $70.00 price target on shares of Compass Pathways in a research note on Tuesday, April 28th. BTIG Research restated a "buy" rating and issued a $14.00 price target on shares of Compass Pathways in a report on Monday, April 20th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Compass Pathways in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned 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 company presently has a consensus rating of "Moderate Buy" and an average price target of $20.45.

Compass Pathways Trading Down 2.1%

Shares of CMPS stock opened at $9.32 on Tuesday. The business's fifty day moving average price is $6.80 and its 200 day moving average price is $6.54. The firm has a market capitalization of $1.20 billion, a PE ratio of -3.02 and a beta of 2.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.77 and a quick ratio of 0.77. Compass Pathways has a 1-year low of $2.25 and a 1-year high of $10.21.

Compass Pathways (NASDAQ:CMPS - Get Free Report) last issued its 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, sell-side analysts forecast that Compass Pathways will post -1.83 EPS for the current fiscal year.

Institutional Trading of Compass Pathways

Institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada grew its position in shares of Compass Pathways by 49.8% in the first quarter. Royal Bank of Canada now owns 89,446 shares of the company's stock valued at $256,000 after purchasing an additional 29,733 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Compass Pathways by 42.0% during the 1st quarter. Acadian Asset Management LLC now owns 240,591 shares of the company's stock worth $686,000 after purchasing an additional 71,112 shares during the last quarter. Nantahala Capital Management LLC lifted its stake in Compass Pathways by 47.7% in the 2nd 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 in the last quarter. Balyasny Asset Management L.P. grew its holdings in Compass Pathways by 38.0% during the 2nd quarter. Balyasny Asset Management L.P. now owns 854,840 shares of the company's stock valued at $2,394,000 after buying an additional 235,345 shares during the last quarter. Finally, Northeast Financial Consultants Inc acquired a new stake in Compass Pathways during the 2nd quarter valued at $59,000. Hedge funds and other institutional investors 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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