Compass Pathways (NASDAQ:CMPS) Price Target Raised to $70.00

Compass Pathways (NASDAQ:CMPS) had its price target hoisted by HC Wainwright from $40.00 to $70.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock. HC Wainwright also issued estimates for Compass Pathways’ FY2030 earnings at $6.46 EPS.

A number of other research firms have also recently commented on CMPS. Compass Point set a $15.00 target price on Compass Pathways in a research note on Thursday, February 12th. Lifesci Capital upgraded shares of Compass Pathways to a “strong-buy” rating in a report on Thursday, February 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Compass Pathways in a research report on Wednesday, January 21st. Royal Bank Of Canada boosted their target price 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. Finally, Morgan Stanley raised their price target on shares of Compass Pathways from $11.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Compass Pathways has a consensus rating of “Moderate Buy” and an average target price of $22.13.

Compass Pathways Stock Performance

Shares of Compass Pathways stock opened at $7.05 on Monday. The business’s fifty day simple moving average is $6.99 and its 200 day simple moving average is $6.12. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.55. Compass Pathways has a 12 month low of $2.25 and a 12 month high of $8.90. The firm has a market capitalization of $676.94 million, a P/E ratio of -2.59 and a beta of 1.90.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CMPS. RTW Investments LP grew its stake in Compass Pathways by 0.6% in the 4th quarter. RTW Investments LP now owns 8,757,390 shares of the company’s stock worth $60,426,000 after buying an additional 50,000 shares in the last quarter. Nantahala Capital Management LLC grew its position 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 acquiring an additional 1,350,698 shares in the last quarter. Millennium Management LLC increased its stake in Compass Pathways by 39.9% in the third quarter. Millennium Management LLC now owns 2,715,872 shares of the company’s stock valued at $15,562,000 after acquiring an additional 774,090 shares during the last quarter. Toronto Dominion Bank increased its stake in Compass Pathways by 152.9% in the fourth quarter. Toronto Dominion Bank now owns 2,529,013 shares of the company’s stock valued at $17,447,000 after acquiring an additional 1,529,013 shares during the last quarter. Finally, ARK Investment Management LLC raised its position in Compass Pathways by 1.6% during the fourth quarter. ARK Investment Management LLC now owns 2,156,012 shares of the company’s stock valued at $14,876,000 after purchasing an additional 34,894 shares in the last quarter. Hedge funds and other institutional investors 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.