Compass Pathways (NASDAQ:CMPS) Given Buy Rating at BTIG Research

Compass Pathways (NASDAQ:CMPS)‘s stock had its “buy” rating reaffirmed by equities research analysts at BTIG Research in a research note issued on Monday,Benzinga reports. They currently have a $14.00 price target on the stock. BTIG Research’s price objective would suggest a potential upside of 51.66% from the company’s current price.

A number of other analysts also recently weighed in on the company. Royal Bank Of Canada upped their target price on Compass Pathways from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Canaccord Genuity Group decreased their price target on Compass Pathways from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. Lifesci Capital raised Compass Pathways to a “strong-buy” rating in a research note on Thursday, February 12th. Morgan Stanley reduced their price objective on shares of Compass Pathways from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Compass Pathways in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $21.63.

Compass Pathways Stock Performance

Shares of CMPS traded up $2.57 during mid-day trading on Monday, hitting $9.23. 19,712,372 shares of the company’s stock were exchanged, compared to its average volume of 3,013,708. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.55. Compass Pathways has a 52 week low of $2.25 and a 52 week high of $10.21. The stock’s 50-day simple moving average is $6.37 and its 200-day simple moving average is $6.36. The firm has a market cap of $886.33 million, a price-to-earnings ratio of -2.99 and a beta of 2.01.

Compass Pathways (NASDAQ:CMPS) last issued its quarterly earnings results on Tuesday, March 24th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.59). On average, equities research analysts expect that Compass Pathways will post -2.33 EPS for the current year.

Hedge Funds Weigh In On Compass Pathways

Several hedge funds and other institutional investors have recently modified their holdings of CMPS. Persistent Asset Partners Ltd bought a new stake in shares of Compass Pathways during the 4th quarter worth $38,000. Advisory Services Network LLC acquired a new stake in Compass Pathways in the third quarter valued at about $41,000. Caitong International Asset Management Co. Ltd bought a new position in Compass Pathways in the fourth quarter valued at about $47,000. BIT Capital GmbH acquired a new position in Compass Pathways during the third quarter worth about $54,000. Finally, Northeast Financial Consultants Inc acquired a new position in Compass Pathways during the second quarter worth about $59,000. 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.