Compass Pathways (NASDAQ:CMPS) Price Target Raised to $20.00

Compass Pathways (NASDAQ:CMPS) had its price target upped by research analysts at Canaccord Genuity Group from $18.00 to $20.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 38.16% from the company’s current price.

A number of other equities analysts have also recently weighed in on CMPS. TD Cowen reissued a “buy” rating on shares of Compass Pathways in a research report on Monday, June 1st. Morgan Stanley boosted their price objective on shares of Compass Pathways from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Maxim Group boosted their target price on shares of Compass Pathways from $12.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Wall Street Zen raised shares of Compass Pathways from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Royal Bank Of Canada upped their price objective on Compass Pathways from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Compass Pathways has an average rating of “Buy” and an average target price of $23.10.

Compass Pathways Price Performance

CMPS stock traded up $0.90 during trading on Friday, hitting $14.48. The stock had a trading volume of 1,321,912 shares, compared to its average volume of 3,587,642. The company’s 50 day moving average price is $10.80 and its two-hundred day moving average price is $8.07. Compass Pathways has a 1-year low of $2.61 and a 1-year high of $14.76. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -4.58 and a beta of 2.50. 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 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, sell-side analysts forecast that Compass Pathways will post -1.24 EPS for the current fiscal year.

Institutional Trading of Compass Pathways

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. raised its position in shares of Compass Pathways by 169.0% during the fourth 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 last quarter. Jefferies Financial Group Inc. bought a new stake in Compass Pathways in the third quarter valued at $7,890,000. Propel Bio Management LLC acquired a new position in Compass Pathways in the third quarter valued at about $2,922,000. Blue Owl Capital Holdings LP increased its holdings in Compass Pathways by 163.1% during the 3rd quarter. Blue Owl Capital Holdings LP now owns 604,914 shares of the company’s stock valued at $3,466,000 after purchasing an additional 375,000 shares in the last quarter. Finally, ARK Investment Management LLC lifted its position in Compass Pathways by 28.6% during the 3rd quarter. ARK Investment Management LLC now owns 2,121,118 shares of the company’s stock worth $12,154,000 after buying an additional 471,897 shares in the last quarter. Institutional investors and hedge funds 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.