Morgan Stanley Reaffirms Overweight Rating for Compass Pathways (NASDAQ:CMPS)

Compass Pathways (NASDAQ:CMPS)‘s stock had its “overweight” rating reissued by analysts at Morgan Stanley in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $17.00 target price on the stock. Morgan Stanley’s price objective points to a potential upside of 31.94% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on CMPS. Royal Bank Of Canada lifted their price target on shares of Compass Pathways from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Compass Point set a $25.00 target price on shares of Compass Pathways in a research report on Tuesday. TD Cowen reissued a “buy” rating on shares of Compass Pathways in a research note on Monday, June 1st. BTIG Research upped their price target on shares of Compass Pathways from $14.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, UBS Group set a $18.00 price objective on Compass Pathways in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.73.

Compass Pathways Price Performance

Shares of CMPS stock traded up $0.04 during mid-day trading on Tuesday, hitting $12.88. 12,320,503 shares of the stock were exchanged, compared to its average volume of 3,697,287. The firm has a fifty day moving average of $11.63 and a 200 day moving average of $8.43. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 0.15. Compass Pathways has a 52-week low of $3.34 and a 52-week high of $15.40. The company has a market cap of $1.74 billion, a PE ratio of -4.09 and a beta of 2.47.

Compass Pathways (NASDAQ:CMPS) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.15. Research analysts anticipate that Compass Pathways will post -1.24 earnings per share for the current year.

Institutional Investors Weigh In On Compass Pathways

Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in Compass Pathways by 67.7% during the first quarter. EverSource Wealth Advisors LLC now owns 4,754 shares of the company’s stock worth $26,000 after purchasing an additional 1,920 shares during the period. Persistent Asset Partners Ltd purchased a new stake in shares of Compass Pathways in the 4th quarter valued at approximately $38,000. Parallel Advisors LLC increased its holdings in shares of Compass Pathways by 8,450.6% during the 1st quarter. Parallel Advisors LLC now owns 7,268 shares of the company’s stock worth $40,000 after buying an additional 7,183 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Compass Pathways during the 3rd quarter valued at approximately $41,000. Finally, North Star Investment Management Corp. raised its position in shares of Compass Pathways by 1,354.0% during the 1st quarter. North Star Investment Management Corp. now owns 7,517 shares of the company’s stock valued at $42,000 after buying an additional 7,000 shares during the period. 46.19% of the stock is currently owned by institutional investors and hedge funds.

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.