Compass Pathways (NASDAQ:CMPS) Price Target Cut to $16.00 by Analysts at Morgan Stanley

Compass Pathways (NASDAQ:CMPS) had its target price cut by investment analysts at Morgan Stanley from $18.00 to $16.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 181.20% from the company’s current price.

CMPS has been the subject of several other research reports. Compass Point set a $15.00 target price on Compass Pathways in a research report on Thursday, February 12th. HC Wainwright upped their target price on shares of Compass Pathways from $40.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Royal Bank Of Canada lifted their price target on shares of Compass Pathways from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Lifesci Capital upgraded Compass Pathways to a “strong-buy” rating in a report on Thursday, February 12th. Finally, Canaccord Genuity Group raised their price objective on Compass Pathways from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Compass Pathways currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.88.

Compass Pathways Trading Up 9.0%

CMPS traded up $0.47 during trading on Wednesday, reaching $5.69. The company had a trading volume of 1,318,348 shares, compared to its average volume of 2,998,798. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.55. The business has a 50 day simple moving average of $6.78 and a 200-day simple moving average of $6.30. The stock has a market cap of $546.35 million, a P/E ratio of -2.09 and a beta of 1.90. Compass Pathways has a 52 week low of $2.25 and a 52 week high of $8.90.

Compass Pathways (NASDAQ:CMPS) last announced its earnings results on Tuesday, March 24th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.20). On average, equities analysts anticipate that Compass Pathways will post -2.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Compass Pathways

A number of hedge funds and other institutional investors have recently modified their holdings of CMPS. Corient Private Wealth LLC increased its holdings in Compass Pathways by 3.2% during the fourth quarter. Corient Private Wealth LLC now owns 38,438 shares of the company’s stock valued at $265,000 after buying an additional 1,200 shares during the period. CWM LLC lifted its holdings in Compass Pathways by 19.2% during the third quarter. CWM LLC now owns 15,650 shares of the company’s stock worth $90,000 after buying an additional 2,525 shares during the period. Conservest Capital Advisors Inc. boosted its position in Compass Pathways by 24.6% during the 4th quarter. Conservest Capital Advisors Inc. now owns 25,363 shares of the company’s stock valued at $175,000 after acquiring an additional 5,000 shares in the last quarter. Persistent Asset Partners Ltd bought a new stake in Compass Pathways during the 4th quarter valued at $38,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Compass Pathways by 46.7% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 18,272 shares of the company’s stock valued at $51,000 after acquiring an additional 5,817 shares during the period. 46.19% of the stock is currently owned by institutional investors.

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.