Compass Pathways (NASDAQ:CMPS) Receives Buy Rating from BTIG Research

Compass Pathways (NASDAQ:CMPS)‘s stock had its “buy” rating reaffirmed by analysts at BTIG Research in a report released on Wednesday,Benzinga reports. They presently have a $14.00 price objective on the stock. BTIG Research’s price target suggests a potential upside of 30.60% from the company’s previous close.

CMPS has been the topic of a number of other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Compass Pathways in a research note on Monday, April 20th. Lifesci Capital raised shares of Compass Pathways to a “strong-buy” rating in a research note on Thursday, February 12th. UBS Group set a $18.00 target price on shares of Compass Pathways in a research note on Thursday, May 7th. HC Wainwright reissued a “buy” rating and issued a $70.00 target price on shares of Compass Pathways in a research note on Tuesday, April 28th. Finally, Jefferies Financial Group upgraded shares of Compass Pathways to a “strong-buy” rating in a report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $20.55.

Compass Pathways Stock Performance

CMPS traded up $1.35 during midday trading on Wednesday, hitting $10.72. 6,748,522 shares of the company were exchanged, compared to its average volume of 3,524,351. The company’s 50 day simple moving average is $7.01 and its 200 day simple moving average is $6.65. 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 has a 1-year low of $2.25 and a 1-year high of $11.08. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -3.47 and a beta of 2.39.

Compass Pathways (NASDAQ:CMPS) last posted its earnings results on Wednesday, May 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.15. As a group, sell-side analysts predict that Compass Pathways will post -1.83 earnings per share for the current year.

Hedge Funds Weigh In On Compass Pathways

Institutional investors and hedge funds have recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. lifted its position in Compass Pathways by 169.0% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 424,800 shares of the company’s stock valued at $2,931,000 after acquiring an additional 266,908 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Compass Pathways in the third quarter valued at about $7,890,000. Propel Bio Management LLC purchased a new stake in shares of Compass Pathways in the third quarter valued at about $2,922,000. Blue Owl Capital Holdings LP raised its holdings in shares of 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 buying an additional 375,000 shares during the last quarter. Finally, ARK Investment Management LLC raised its holdings in shares of 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 buying an additional 471,897 shares during the last quarter. Institutional investors and hedge funds 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.