Royal Bank Of Canada Increases COMPASS Pathways (NASDAQ:CMPS) Price Target to $21.00

COMPASS Pathways (NASDAQ:CMPS) had its target price increased by equities researchers at Royal Bank Of Canada from $16.00 to $21.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 183.75% from the company’s current price.

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

COMPASS Pathways Price Performance

Shares of CMPS traded up $0.27 during trading hours on Friday, hitting $7.40. The stock had a trading volume of 445,753 shares, compared to its average volume of 1,478,020. The stock has a market capitalization of $710.64 million, a price-to-earnings ratio of -2.72 and a beta of 1.92. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.23 and a quick ratio of 1.23. The company’s fifty day moving average is $6.38 and its two-hundred day moving average is $5.55. COMPASS Pathways has a 52 week low of $2.25 and a 52 week high of $8.20.

COMPASS Pathways (NASDAQ:CMPS) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.02. On average, analysts anticipate that COMPASS Pathways will post -2.33 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. increased its stake in COMPASS Pathways by 169.0% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 424,800 shares of the company’s stock valued at $2,931,000 after purchasing an additional 266,908 shares in the last quarter. Advisory Services Network LLC bought a new position in COMPASS Pathways during the third quarter worth about $41,000. Parkman Healthcare Partners LLC acquired a new position in COMPASS Pathways in the third quarter valued at about $573,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of COMPASS Pathways during the third quarter worth about $118,000. Finally, Millennium Management LLC lifted its holdings in shares of COMPASS Pathways by 39.9% during the 3rd quarter. Millennium Management LLC now owns 2,715,872 shares of the company’s stock valued at $15,562,000 after purchasing an additional 774,090 shares in the last quarter. 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.