COMPASS Pathways (NASDAQ:CMPS) Price Target Raised to $21.00

COMPASS Pathways (NASDAQ:CMPS) had its price objective hoisted by Royal Bank Of Canada from $16.00 to $21.00 in a report issued on Friday, Marketbeat reports. They currently have an outperform rating on the stock.

A number of other research analysts have also commented on the company. BTIG Research increased their price objective on COMPASS Pathways from $7.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Morgan Stanley upped their price target on COMPASS Pathways from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of COMPASS Pathways in a report on Wednesday. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $16.25.

COMPASS Pathways Stock Up 0.6%

Shares of NASDAQ:CMPS opened at $7.17 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.55. The firm has a market cap of $688.46 million, a P/E ratio of -2.64 and a beta of 1.92. COMPASS Pathways has a 12 month low of $2.25 and a 12 month high of $8.20. The company’s 50-day moving average price is $6.42 and its two-hundred day moving average price is $5.61.

COMPASS Pathways (NASDAQ:CMPS) last announced its earnings results on Tuesday, November 4th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.02. As a group, research analysts forecast that COMPASS Pathways will post -2.33 EPS for the current fiscal year.

Hedge Funds Weigh In On COMPASS Pathways

Several institutional investors have recently modified their holdings of CMPS. Jefferies Financial Group Inc. acquired a new stake in shares of COMPASS Pathways in the 3rd quarter valued at approximately $7,890,000. 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 valued at $11,704,000 after purchasing an additional 1,350,698 shares during the period. Ameriprise Financial Inc. bought a new stake in COMPASS Pathways in the third quarter valued at approximately $6,926,000. Hsbc Holdings PLC acquired a new stake in COMPASS Pathways in the second quarter worth $3,011,000. Finally, Two Sigma Investments LP raised its holdings in COMPASS Pathways by 838.4% in the third quarter. Two Sigma Investments LP now owns 1,075,277 shares of the company’s stock worth $6,161,000 after purchasing an additional 960,685 shares during the period. 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.