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

Compass Pathways (NASDAQ:CMPS) had its price target lifted by B. Riley Financial from $17.00 to $22.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley Financial’s target price would suggest a potential upside of 61.84% from the company’s previous close.

Several other equities analysts also recently commented on the stock. Canaccord Genuity Group boosted their target price on shares of Compass Pathways from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, June 26th. UBS Group set a $18.00 price objective on shares of Compass Pathways in a research report on Thursday, May 7th. BTIG Research boosted their price objective on Compass Pathways from $14.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Wall Street Zen upgraded shares of Compass Pathways from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Evercore raised Compass Pathways from an “in-line” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.71.

Compass Pathways Stock Performance

Shares of NASDAQ CMPS traded up $0.01 during trading on Thursday, hitting $13.59. The company had a trading volume of 576,765 shares, compared to its average volume of 3,731,034. Compass Pathways has a 12 month low of $3.97 and a 12 month high of $15.40. The firm has a market capitalization of $1.83 billion, a P/E ratio of -4.32 and a beta of 2.50. The stock has a 50 day simple moving average of $12.54 and a 200 day simple moving average of $9.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.32 and a current ratio of 3.32.

Compass Pathways (NASDAQ:CMPS) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($1.49). As a group, analysts anticipate that Compass Pathways will post -1.24 earnings per share for the current year.

Institutional Trading of Compass Pathways

Several hedge funds and other institutional investors have recently bought and sold shares of CMPS. Royal Bank of Canada lifted its stake in shares of Compass Pathways by 49.8% during the 1st quarter. Royal Bank of Canada now owns 89,446 shares of the company’s stock worth $256,000 after purchasing an additional 29,733 shares during the last quarter. Acadian Asset Management LLC grew its stake in Compass Pathways by 42.0% in the first quarter. Acadian Asset Management LLC now owns 240,591 shares of the company’s stock valued at $686,000 after purchasing an additional 71,112 shares during the last quarter. Nantahala Capital Management LLC raised its holdings in Compass Pathways by 47.7% in the second 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 in the last quarter. Balyasny Asset Management L.P. raised its holdings in Compass Pathways by 38.0% in the second quarter. Balyasny Asset Management L.P. now owns 854,840 shares of the company’s stock worth $2,394,000 after purchasing an additional 235,345 shares in the last quarter. Finally, Northeast Financial Consultants Inc purchased a new stake in shares of Compass Pathways during the second quarter valued at about $59,000. 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.