Compass Pathways (NASDAQ:CMPS – Get Free Report) had its price objective boosted by research analysts at BTIG Research from $14.00 to $25.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s target price would indicate a potential upside of 93.66% from the company’s previous close.
A number of other research firms have also weighed in on CMPS. Morgan Stanley raised their price objective on shares of Compass Pathways from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Canaccord Genuity Group increased their price target on shares of Compass Pathways from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, June 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Compass Pathways in a report on Monday, April 20th. B. Riley Financial assumed coverage on shares of Compass Pathways in a research report on Friday, April 24th. They set a “buy” rating and a $17.00 price target for the company. Finally, Wall Street Zen upgraded shares of Compass Pathways from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.20.
View Our Latest Stock Report on CMPS
Compass Pathways Stock Up 0.5%
Compass Pathways (NASDAQ:CMPS – Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. As a group, research analysts expect that Compass Pathways will post -1.24 earnings per share for the current year.
Hedge Funds Weigh In On Compass Pathways
A number of hedge funds have recently bought and sold shares of CMPS. RTW Investments LP lifted its stake in Compass Pathways by 0.6% during the 4th quarter. RTW Investments LP now owns 8,757,390 shares of the company’s stock valued at $60,426,000 after acquiring an additional 50,000 shares during the period. Nantahala Capital Management LLC grew its stake in shares of Compass Pathways by 47.7% in the second quarter. Nantahala Capital Management LLC now owns 4,179,930 shares of the company’s stock worth $11,704,000 after acquiring an additional 1,350,698 shares during the period. Millennium Management LLC grew its stake in shares of Compass Pathways by 39.9% in the third quarter. Millennium Management LLC now owns 2,715,872 shares of the company’s stock worth $15,562,000 after acquiring an additional 774,090 shares during the period. Toronto Dominion Bank raised its holdings in shares of Compass Pathways by 152.9% during the fourth quarter. Toronto Dominion Bank now owns 2,529,013 shares of the company’s stock valued at $17,447,000 after purchasing an additional 1,529,013 shares during the last quarter. Finally, ARK Investment Management LLC raised its holdings in shares of Compass Pathways by 1.6% during the fourth quarter. ARK Investment Management LLC now owns 2,156,012 shares of the company’s stock valued at $14,876,000 after purchasing an additional 34,894 shares during the last quarter. Hedge funds and other institutional investors 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.
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