COMPASS Pathways (NASDAQ:CMPS) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a report issued on Wednesday, Zacks.com reports. The firm presently has a $42.00 price objective on the stock. Zacks Investment Research's price target would suggest a potential upside of 13.12% from the stock's current price.
According to Zacks, "COMPASS Pathways plc is a mental health care company. It operates principally in New York, USA. COMPASS Pathways plc is headquartered in London, UK. "
A number of other analysts also recently issued reports on CMPS. Berenberg Bank reaffirmed a "buy" rating and issued a $50.00 target price on shares of COMPASS Pathways in a research note on Monday, June 28th. Citigroup started coverage on COMPASS Pathways in a research note on Tuesday, July 13th. They issued a "buy" rating and a $67.00 target price for the company. Roth Capital assumed coverage on COMPASS Pathways in a research note on Thursday, April 1st. They issued a "buy" rating and a $88.00 target price for the company. Maxim Group assumed coverage on COMPASS Pathways in a report on Monday, June 28th. They set a "buy" rating and a $70.00 price target for the company. Finally, HC Wainwright increased their price target on COMPASS Pathways from $65.00 to $100.00 and gave the stock a "positive" rating in a report on Thursday, July 1st. Ten analysts have rated the stock with a buy rating, The company has a consensus rating of "Buy" and a consensus target price of $71.00.
Shares of CMPS traded up $0.06 during trading hours on Wednesday, hitting $37.13. 227,491 shares of the stock were exchanged, compared to its average volume of 434,678. COMPASS Pathways has a 12-month low of $22.51 and a 12-month high of $61.69. The firm has a market capitalization of $1.48 billion and a P/E ratio of -10.46. The stock has a 50-day moving average price of $35.84.
COMPASS Pathways (NASDAQ:CMPS) last issued its quarterly earnings results on Wednesday, May 12th. The company reported ($0.35) EPS for the quarter, topping the Thomson Reuters' consensus estimate of ($0.49) by $0.14. Equities research analysts anticipate that COMPASS Pathways will post -1.45 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the stock. tru Independence LLC purchased a new position in COMPASS Pathways during the 4th quarter valued at about $28,584,000. Citigroup Inc. purchased a new position in COMPASS Pathways during the 1st quarter valued at about $37,000. Wells Fargo & Company MN boosted its holdings in COMPASS Pathways by 468.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,991 shares of the company's stock valued at $95,000 after acquiring an additional 1,641 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in COMPASS Pathways by 5,019.0% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,150 shares of the company's stock valued at $79,000 after acquiring an additional 2,108 shares during the period. Finally, FNY Investment Advisers LLC purchased a new position in COMPASS Pathways during the 1st quarter valued at about $92,000. Institutional investors own 11.20% of the company's stock.
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 formulation that is in Phase IIb clinical trial to treat patients with treatment-resistant depression. The company was formerly known as COMPASS Rx Limited and changed its name to COMPASS Pathways plc in August 2020.
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