Royal Bank Of Canada Forecasts Strong Price Appreciation for Compass Pathways (NASDAQ:CMPS) Stock

Compass Pathways (NASDAQ:CMPS) had its price objective raised by equities research analysts at Royal Bank Of Canada from $21.00 to $22.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 112.15% from the company’s current price.

CMPS has been the topic of a number of other reports. UBS Group set a $18.00 price target on shares of Compass Pathways in a research report on Thursday, May 7th. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price target on shares of Compass Pathways in a research report on Tuesday, April 28th. Lifesci Capital raised shares of Compass Pathways to a “strong-buy” rating in a research report on Thursday, February 12th. Jefferies Financial Group raised shares of Compass Pathways to a “strong-buy” rating in a research report on Tuesday, May 5th. Finally, B. Riley Financial began coverage on shares of Compass Pathways in a research report on Friday, April 24th. They set a “buy” rating and a $17.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.58.

Compass Pathways Price Performance

Compass Pathways stock opened at $10.37 on Thursday. Compass Pathways has a 1 year low of $2.25 and a 1 year high of $11.27. The firm has a 50 day moving average price of $7.23 and a 200 day moving average price of $6.74. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -3.29 and a beta of 2.39. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.77 and a current ratio of 3.32.

Compass Pathways (NASDAQ:CMPS) last released its earnings results on Wednesday, May 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.15. Sell-side analysts predict that Compass Pathways will post -1.87 earnings per share for the current year.

Institutional Trading of Compass Pathways

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Affinity Asset Advisors LLC increased its stake in shares of Compass Pathways by 454.2% in the first quarter. Affinity Asset Advisors LLC now owns 1,108,483 shares of the company’s stock worth $6,130,000 after buying an additional 908,483 shares during the last quarter. Entropy Technologies LP bought a new stake in Compass Pathways during the first quarter valued at $110,000. Amova Asset Management Americas Inc. increased its stake in Compass Pathways by 49.1% during the first quarter. Amova Asset Management Americas Inc. now owns 368,828 shares of the company’s stock valued at $2,029,000 after purchasing an additional 121,491 shares during the last quarter. Parallel Advisors LLC increased its stake in Compass Pathways by 8,450.6% during the first quarter. Parallel Advisors LLC now owns 7,268 shares of the company’s stock valued at $40,000 after purchasing an additional 7,183 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in Compass Pathways by 49.1% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 368,828 shares of the company’s stock valued at $2,040,000 after purchasing an additional 121,491 shares during the last quarter. 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.