Compass Pathways (NASDAQ:CMPS) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Compass Pathways (NASDAQ:CMPS) in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a $70.00 price target on the stock.

Other research analysts have also recently issued reports about the stock. Stifel Nicolaus boosted their target price on shares of Compass Pathways from $14.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday. Compass Point set a $25.00 price target on shares of Compass Pathways in a report on Tuesday. Royal Bank Of Canada lifted their price target on shares of Compass Pathways from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Wolfe Research reiterated an “outperform” rating on shares of Compass Pathways in a report on Tuesday. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Compass Pathways in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.15.

Compass Pathways Price Performance

CMPS stock opened at $13.97 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.32 and a current ratio of 3.32. Compass Pathways has a 1 year low of $3.45 and a 1 year high of $15.40. The firm has a market cap of $1.89 billion, a P/E ratio of -4.43 and a beta of 2.47. The stock has a 50-day simple moving average of $11.80 and a 200-day simple moving average of $8.53.

Compass Pathways (NASDAQ:CMPS) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.15. On average, equities analysts predict that Compass Pathways will post -1.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. grew its position in shares of Compass Pathways by 169.0% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 424,800 shares of the company’s stock worth $2,931,000 after acquiring an additional 266,908 shares in the last quarter. BIT Capital GmbH raised its position in shares of Compass Pathways by 2,963.4% during the 4th quarter. BIT Capital GmbH now owns 288,814 shares of the company’s stock valued at $1,993,000 after acquiring an additional 279,386 shares in the last quarter. Eagle Health Investments LP raised its position in shares of Compass Pathways by 62.4% during the 4th quarter. Eagle Health Investments LP now owns 1,519,388 shares of the company’s stock valued at $10,484,000 after acquiring an additional 583,938 shares in the last quarter. NEXTBio Capital Management LP bought a new position in Compass Pathways during the fourth quarter worth $5,193,000. Finally, Jefferies Financial Group Inc. lifted its stake in Compass Pathways by 14.5% during the fourth quarter. Jefferies Financial Group Inc. now owns 1,576,905 shares of the company’s stock worth $10,881,000 after purchasing an additional 200,000 shares during the last quarter. 46.19% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Compass Pathways

Here are the key news stories impacting Compass Pathways this week:

• Positive Sentiment: Compass Pathways announced 26-week data from its second Phase 3 COMP006 trial, saying COMP360 showed a rapid and durable antidepressant effect in treatment-resistant depression, strengthening the FDA case for the drug. Business Wire article
• Positive Sentiment: Evercore upgraded CMPS from in-line to outperform and set a $21 price target, citing the latest psychedelic therapy data. Seeking Alpha article
• Positive Sentiment: BTIG raised its price target to $25 from $14 and kept a buy rating, while HC Wainwright reaffirmed buy and lifted its target to $70, reflecting much higher upside expectations. Benzinga article
• Positive Sentiment: Morgan Stanley reaffirmed an overweight rating with a $17 target, adding to the bullish analyst backdrop. Benzinga article
• Neutral Sentiment: Media coverage noted the stock’s gains were muted at times as investors balanced the promising trial results against valuation concerns and the need for FDA filing progress. Yahoo Finance article
• Neutral Sentiment: Additional commentary reviewed Phase 3 COMP006 data and highlighted the durability of the treatment response, but did not materially change the thesis beyond reinforcing the recent trial readout. Seeking Alpha article

Compass Pathways Company Profile

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.