HC Wainwright Forecasts Strong Price Appreciation for Compass Pathways (NASDAQ:CMPS) Stock

Compass Pathways (NASDAQ:CMPS) had its price objective hoisted by HC Wainwright from $40.00 to $70.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Several other equities research analysts also recently weighed in on the company. Canaccord Genuity Group upped their target price on Compass Pathways from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Compass Pathways in a report on Wednesday, January 21st. Royal Bank Of Canada increased their price objective on shares of Compass Pathways from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Lifesci Capital upgraded shares of Compass Pathways to a “strong-buy” rating in a research note on Thursday, February 12th. Finally, Morgan Stanley upped their target price on shares of Compass Pathways from $11.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.13.

Compass Pathways Stock Down 1.0%

Shares of NASDAQ CMPS opened at $6.95 on Monday. Compass Pathways has a 12-month low of $2.25 and a 12-month high of $8.90. The company has a market cap of $667.34 million, a P/E ratio of -2.56 and a beta of 1.90. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.55. The stock has a fifty day moving average price of $6.98 and a 200 day moving average price of $6.12.

Institutional Trading of Compass Pathways

Hedge funds have recently made changes to their positions in the stock. Simplify Asset Management Inc. bought a new position in shares of Compass Pathways during the third quarter worth about $1,662,000. Bridger Management LLC bought a new stake in Compass Pathways in the second quarter valued at about $412,000. Eagle Health Investments LP acquired a new stake in Compass Pathways during the third quarter valued at approximately $5,360,000. Schroder Investment Management Group bought a new position in Compass Pathways during the 2nd quarter worth approximately $1,525,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Compass Pathways in the 2nd quarter worth approximately $3,011,000. Institutional investors and hedge funds 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.