Compass Pathways (NASDAQ:CMPS) Hits New 1-Year High Following Analyst Upgrade

Shares of Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) hit a new 52-week high on Saturday after Canaccord Genuity Group raised their price target on the stock from $18.00 to $20.00. Canaccord Genuity Group currently has a buy rating on the stock. Compass Pathways traded as high as $14.94 and last traded at $14.82, with a volume of 5476948 shares trading hands. The stock had previously closed at $13.58.

A number of other equities research analysts have also issued reports on the stock. B. Riley Financial initiated coverage on shares of Compass Pathways in a report on Friday, April 24th. They set a “buy” rating and a $17.00 target price for the company. HC Wainwright restated a “buy” rating on shares of Compass Pathways in a research report on Friday, May 22nd. UBS Group set a $18.00 price target on shares of Compass Pathways in a research report on Thursday, May 7th. Raymond James Financial reaffirmed a “buy” rating on shares of Compass Pathways in a research note on Friday, May 22nd. Finally, Maxim Group increased their price objective on shares of Compass Pathways from $12.00 to $20.00 and gave the company a “buy” rating in a report on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $23.10.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Corient Private Wealth LLC boosted its position in shares of Compass Pathways by 3.2% during the 4th quarter. Corient Private Wealth LLC now owns 38,438 shares of the company’s stock worth $265,000 after purchasing an additional 1,200 shares during the period. EverSource Wealth Advisors LLC raised its position in Compass Pathways by 67.7% in the first quarter. EverSource Wealth Advisors LLC now owns 4,754 shares of the company’s stock valued at $26,000 after purchasing an additional 1,920 shares during the period. Conservest Capital Advisors Inc. raised its position in Compass Pathways by 24.6% in the fourth quarter. Conservest Capital Advisors Inc. now owns 25,363 shares of the company’s stock valued at $175,000 after purchasing an additional 5,000 shares during the period. Persistent Asset Partners Ltd acquired a new position in Compass Pathways during the fourth quarter worth $38,000. Finally, Raymond James Financial Inc. lifted its stake in Compass Pathways by 82.7% during the third quarter. Raymond James Financial Inc. now owns 13,763 shares of the company’s stock worth $79,000 after purchasing an additional 6,228 shares in the last quarter. Institutional investors and hedge funds own 46.19% of the company’s stock.

Compass Pathways Stock Performance

The firm has a 50-day moving average price of $10.98 and a 200 day moving average price of $8.12. The firm has a market capitalization of $2.00 billion, a PE ratio of -4.70 and a beta of 2.50. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 0.15.

Compass Pathways (NASDAQ:CMPS) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.15. Research analysts expect that Compass Pathways PLC Sponsored ADR will post -1.24 earnings per share for the current year.

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.