Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) Stock Has Consensus Target Price of $23.36 According to Brokerages

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) has received an average rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $23.36.

Several brokerages have weighed in on CMPS. HC Wainwright cut their price target on Compass Pathways from $70.00 to $65.00 and set a “buy” rating for the company in a report on Friday, August 7th. Wolfe Research restated an “outperform” rating on shares of Compass Pathways in a report on Tuesday, July 7th. Royal Bank Of Canada lowered their price objective on Compass Pathways from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Compass Pathways in a research note on Friday, July 17th. Finally, B. Riley Financial increased their target price on Compass Pathways from $17.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th.

Compass Pathways Stock Performance

Shares of NASDAQ CMPS opened at $11.60 on Thursday. The company has a market cap of $1.61 billion, a PE ratio of -2.51 and a beta of 2.55. Compass Pathways has a 12 month low of $4.88 and a 12 month high of $15.87. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.30 and a quick ratio of 1.30. The company has a 50-day simple moving average of $13.41 and a 200-day simple moving average of $11.33.

Compass Pathways (NASDAQ:CMPS) last posted its quarterly earnings data 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). On average, equities analysts anticipate that Compass Pathways will post -1.26 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Eagle Health Investments LP boosted its position in shares of Compass Pathways by 35.6% in the first quarter. Eagle Health Investments LP now owns 2,060,427 shares of the company’s stock worth $11,394,000 after acquiring an additional 541,039 shares during the last quarter. Orbimed Advisors LLC acquired a new position in Compass Pathways during the first quarter worth approximately $6,363,000. Affinity Asset Advisors LLC increased its position in Compass Pathways by 454.2% during the first quarter. Affinity Asset Advisors LLC now owns 1,108,483 shares of the company’s stock worth $6,130,000 after purchasing an additional 908,483 shares during the last quarter. Propel Bio Management LLC raised its stake in Compass Pathways by 69.0% during the fourth quarter. Propel Bio Management LLC now owns 861,778 shares of the company’s stock worth $5,946,000 after purchasing an additional 351,778 shares during the period. Finally, NEXTBio Capital Management LP purchased a new position in Compass Pathways during the fourth quarter worth approximately $5,193,000. Institutional investors and hedge funds own 46.19% of the company’s stock.

Compass Pathways Company Profile

Compass Pathways plc is a biotechnology company developing psychedelic treatments for mental health conditions. The company’s lead investigational product is COMP360, a proprietary formulation of synthetic psilocybin administered with psychological support in a controlled clinical setting.

Compass Pathways has focused primarily on treatment-resistant depression, a condition in which patients do not achieve adequate relief from standard therapies. Its research has also explored the potential use of COMP360 in other serious mental health disorders.