COMPASS Pathways (NASDAQ:CMPS) Price Target Raised to $21.00 at Royal Bank Of Canada

COMPASS Pathways (NASDAQ:CMPS) had its target price hoisted by analysts at Royal Bank Of Canada from $16.00 to $21.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 183.75% from the stock’s current price.

Other analysts also recently issued reports about the stock. Morgan Stanley lifted their price objective on shares of COMPASS Pathways from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. BTIG Research boosted their price target on shares of COMPASS Pathways from $7.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of COMPASS Pathways in a report on Wednesday. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, COMPASS Pathways currently has an average rating of “Moderate Buy” and a consensus target price of $16.25.

COMPASS Pathways Stock Up 3.8%

CMPS stock traded up $0.27 during trading hours on Friday, reaching $7.40. 445,753 shares of the stock were exchanged, compared to its average volume of 1,478,020. The firm’s 50-day moving average is $6.38 and its 200-day moving average is $5.55. The company has a market cap of $710.64 million, a price-to-earnings ratio of -2.72 and a beta of 1.92. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.23 and a quick ratio of 1.23. COMPASS Pathways has a 12 month low of $2.25 and a 12 month high of $8.20.

COMPASS Pathways (NASDAQ:CMPS) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.02. On average, equities research analysts expect that COMPASS Pathways will post -2.33 earnings per share for the current year.

Institutional Trading of COMPASS Pathways

Several institutional investors and hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC acquired a new stake in shares of COMPASS Pathways in the third quarter valued at approximately $41,000. China Universal Asset Management Co. Ltd. raised its stake in 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. BIT Capital GmbH acquired a new stake in COMPASS Pathways during the 3rd quarter valued at $54,000. Conservest Capital Advisors Inc. boosted its position in COMPASS Pathways by 32.5% during the second quarter. Conservest Capital Advisors Inc. now owns 20,363 shares of the company’s stock worth $57,000 after purchasing an additional 5,000 shares during the period. Finally, Northeast Financial Consultants Inc acquired a new position in shares of COMPASS Pathways in the second quarter valued at $59,000. 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.