Compass Pathways (NASDAQ:CMPS) Rating Increased to Strong-Buy at Jefferies Financial Group

Compass Pathways (NASDAQ:CMPS) was upgraded by Jefferies Financial Group to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other brokerages have also issued reports on CMPS. B. Riley Financial started 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. UBS Group set a $17.00 price target on Compass Pathways in a report on Friday, April 24th. 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 note on Thursday, March 26th. Lifesci Capital upgraded Compass Pathways to a “strong-buy” rating in a report on Thursday, February 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Compass Pathways in a research report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.45.

Compass Pathways Trading Down 2.1%

Shares of CMPS stock opened at $9.32 on Tuesday. The firm has a 50-day moving average price of $6.80 and a 200 day moving average price of $6.54. Compass Pathways has a twelve month low of $2.25 and a twelve month high of $10.21. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -3.02 and a beta of 2.39. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.55.

Compass Pathways (NASDAQ:CMPS) last released its quarterly earnings results on Tuesday, March 24th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.59). Research analysts forecast that Compass Pathways will post -1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Compass Pathways

Large investors have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. grew its stake in shares of Compass Pathways by 169.0% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 424,800 shares of the company’s stock valued at $2,931,000 after buying an additional 266,908 shares during the period. Jefferies Financial Group Inc. purchased a new position in shares of Compass Pathways in the 3rd quarter worth $7,890,000. Propel Bio Management LLC purchased a new position in shares of Compass Pathways in the 3rd quarter worth $2,922,000. Blue Owl Capital Holdings LP boosted its holdings in Compass Pathways by 163.1% in the third quarter. Blue Owl Capital Holdings LP now owns 604,914 shares of the company’s stock valued at $3,466,000 after acquiring an additional 375,000 shares during the last quarter. Finally, ARK Investment Management LLC boosted its holdings in Compass Pathways by 28.6% in the third quarter. ARK Investment Management LLC now owns 2,121,118 shares of the company’s stock valued at $12,154,000 after acquiring an additional 471,897 shares during the last quarter. 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.