Compass Pathways (NASDAQ:CMPS) Receives “Buy” Rating from BTIG Research

BTIG Research restated their buy rating on shares of Compass Pathways (NASDAQ:CMPS) in a report published on Wednesday,Benzinga reports. The brokerage currently has a $14.00 price objective on the stock.

CMPS has been the topic of a number of other research reports. Royal Bank Of Canada increased their price target on Compass Pathways from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Lifesci Capital raised Compass Pathways to a “strong-buy” rating in a research report on Thursday, February 12th. Canaccord Genuity Group reduced 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. B. Riley Financial started coverage on Compass Pathways in a research report on Friday, April 24th. They set a “buy” rating and a $17.00 price target on the stock. Finally, UBS Group set a $18.00 price target on Compass Pathways in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.55.

Compass Pathways Trading Up 17.0%

Shares of NASDAQ:CMPS opened at $10.96 on Wednesday. The company has a market capitalization of $1.41 billion, a P/E ratio of -3.55 and a beta of 2.39. Compass Pathways has a 1 year low of $2.25 and a 1 year high of $11.08. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.77 and a quick ratio of 0.77. The business’s 50 day simple moving average is $7.09 and its 200 day simple moving average is $6.69.

Compass Pathways (NASDAQ:CMPS) last issued 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. On average, research analysts anticipate that Compass Pathways will post -1.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Compass Pathways

A number of large investors have recently modified their holdings of CMPS. Toronto Dominion Bank boosted its holdings in shares of Compass Pathways by 152.9% in the 4th 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 in the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of Compass Pathways in the 3rd quarter valued at $7,890,000. Nantahala Capital Management LLC boosted its holdings in shares of Compass Pathways by 47.7% in the 2nd quarter. Nantahala Capital Management LLC now owns 4,179,930 shares of the company’s stock valued at $11,704,000 after purchasing an additional 1,350,698 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Compass Pathways in the 3rd quarter valued at $6,926,000. Finally, Siren L.L.C. acquired a new stake in shares of Compass Pathways in the 4th quarter valued at $6,900,000. Institutional investors and hedge funds 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.