Compass Pathways (NASDAQ:CMPS) Given New $10.00 Price Target at Wells Fargo & Company

Compass Pathways (NASDAQ:CMPS) had its price objective cut by Wells Fargo & Company from $13.00 to $10.00 in a research report report published on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

CMPS has been the subject of several other research reports. Wolfe Research reaffirmed an “outperform” rating on shares of Compass Pathways in a research note on Tuesday, July 7th. Wall Street Zen downgraded Compass Pathways from a “sell” rating to a “strong sell” rating in a report on Saturday, October 31st. Evercore raised Compass Pathways from an “in-line” rating to an “outperform” rating and set a $21.00 price target on the stock in a research note on Wednesday, July 8th. Jefferies Financial Group restated a “buy” rating on shares of Compass Pathways in a report on Wednesday, September 9th. Finally, Morgan Stanley increased their price target on Compass Pathways from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.14.

Compass Pathways Stock Performance

Shares of Compass Pathways stock opened at $8.60 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average price of $12.57 and a two-hundred day moving average price of $10.40. Compass Pathways has a 1-year low of $4.88 and a 1-year high of $15.87. The company has a market cap of $1.19 billion, a P/E ratio of -2.46 and a beta of 2.43.

Compass Pathways (NASDAQ:CMPS) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.08. As a group, analysts anticipate that Compass Pathways will post -1.26 EPS for the current year.

Institutional Trading of Compass Pathways

Several hedge funds have recently bought and sold shares of the business. Vivo Capital LLC acquired a new position in shares of Compass Pathways during the first quarter valued at about $1,106,000. Seven Fleet Capital Management LP increased its position in shares of Compass Pathways by 295.1% during the first quarter. Seven Fleet Capital Management LP now owns 158,021 shares of the company’s stock worth $874,000 after acquiring an additional 118,021 shares in the last quarter. Orbimed Advisors LLC bought a new stake in shares of Compass Pathways during the first quarter worth about $6,363,000. Eversept Partners LP acquired a new stake in shares of Compass Pathways in the 1st quarter worth about $3,749,000. Finally, Eagle Health Investments LP raised its holdings in shares of Compass Pathways by 35.6% in the 1st 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. Institutional investors and hedge funds own 46.19% of the company’s stock.

Compass Pathways News Summary

Here are the key news stories impacting Compass Pathways this week:

• Positive Sentiment: Compass reported a third-quarter loss of $0.31 per share, narrower than the $0.39 loss analysts expected. The company said it expects to complete its COMP360 New Drug Application within two weeks and outlined a potential 30- to 60-day FDA review timeline. RBC said the company remains on track for a launch. Compass Pathways Remains on Track for COMP360 Launch Following Q3 Results, RBC Says
• Positive Sentiment: Commercial prospects received a boost from a survey indicating that 90% of interventional psychiatrists surveyed would be willing to prescribe COMP360. BTIG also reaffirmed its Buy rating and $25 target, while Oppenheimer reiterated Outperform. Compass Pathways: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Stifel characterized the Usona situation as “extremely atypical,” suggesting that the competitive implications may not be straightforward. Stifel on Compass Pathways
• Negative Sentiment: Wells Fargo cut its price target to $10 from $13 and maintained an Equal Weight rating. Recent competitive concerns, including a rival’s NDA submission, had also pressured sentiment around the psychedelic-drug approval race. Wells Fargo analyst recommendations COMPASS Pathways rebounds on earnings after selloff driven by rival’s NDA submission

Compass Pathways Company Profile

Compass Pathways plc is a biotechnology company developing novel 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 respond adequately to existing therapies. Its research programs have included mid- and late-stage clinical trials designed to evaluate the safety and effectiveness of COMP360, as well as studies exploring its potential use in other mental health disorders.

Founded in 2016 and headquartered in London, Compass Pathways conducts research and clinical development activities across the United States, the United Kingdom and other international markets.