B. Riley Financial Raises Compass Pathways (NASDAQ:CMPS) Price Target to $22.00

Compass Pathways (NASDAQ:CMPS) had its price objective raised by B. Riley Financial from $17.00 to $22.00 in a research report issued on Thursday, MarketBeat reports. The brokerage presently has a “buy” rating on the stock. B. Riley Financial’s price objective points to a potential upside of 62.48% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $70.00 price objective on shares of Compass Pathways in a research report on Wednesday, July 8th. TD Cowen reissued a “buy” rating on shares of Compass Pathways in a research note on Monday, June 1st. Compass Point set a $25.00 price target on shares of Compass Pathways in a research report on Tuesday, July 7th. UBS Group set a $18.00 price target on shares of Compass Pathways in a research report on Thursday, May 7th. Finally, Canaccord Genuity Group upped their price objective on Compass Pathways from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $23.36.

Compass Pathways Stock Down 0.1%

Shares of NASDAQ:CMPS opened at $13.54 on Thursday. Compass Pathways has a 52-week low of $3.97 and a 52-week high of $15.40. The stock has a market cap of $1.83 billion, a P/E ratio of -2.93 and a beta of 2.50. The business has a fifty day moving average of $12.59 and a two-hundred day moving average of $9.34. The company has a quick ratio of 3.32, a current ratio of 1.30 and a debt-to-equity ratio of 0.60.

Compass Pathways (NASDAQ:CMPS) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.88) EPS for the quarter, missing the consensus estimate of ($0.39) by ($1.49). On average, research analysts expect that Compass Pathways will post -1.67 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised its stake in shares of Compass Pathways by 49.8% in the 1st quarter. Royal Bank of Canada now owns 89,446 shares of the company’s stock valued at $256,000 after acquiring an additional 29,733 shares during the period. Acadian Asset Management LLC boosted its position in shares of Compass Pathways by 42.0% during the 1st quarter. Acadian Asset Management LLC now owns 240,591 shares of the company’s stock worth $686,000 after purchasing an additional 71,112 shares during the period. Nantahala Capital Management LLC boosted its position in shares of Compass Pathways by 47.7% during the 2nd quarter. Nantahala Capital Management LLC now owns 4,179,930 shares of the company’s stock worth $11,704,000 after purchasing an additional 1,350,698 shares during the period. Balyasny Asset Management L.P. increased its holdings in Compass Pathways by 38.0% in the 2nd quarter. Balyasny Asset Management L.P. now owns 854,840 shares of the company’s stock valued at $2,394,000 after purchasing an additional 235,345 shares during the last quarter. Finally, Northeast Financial Consultants Inc acquired a new stake in Compass Pathways in the 2nd quarter valued at approximately $59,000. Hedge funds and other institutional investors own 46.19% of the company’s stock.

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.