COMPASS Pathways (NASDAQ:CMPS) Given “Outperform” Rating at Royal Bank of Canada

COMPASS Pathways (NASDAQ:CMPS)‘s stock had its “outperform” rating reissued by stock analysts at Royal Bank of Canada in a report issued on Wednesday,Benzinga reports. They presently have a $18.00 price objective on the stock. Royal Bank of Canada’s price target points to a potential upside of 427.86% from the company’s current price.

Other analysts also recently issued research reports about the stock. Maxim Group cut their price objective on shares of COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating for the company in a report on Friday, November 1st. HC Wainwright cut their price target on COMPASS Pathways from $120.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $33.60.

COMPASS Pathways Stock Performance

CMPS opened at $3.41 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 8.91 and a quick ratio of 8.91. The business has a fifty day simple moving average of $4.36 and a 200 day simple moving average of $5.89. COMPASS Pathways has a 1 year low of $3.16 and a 1 year high of $12.75. The company has a market capitalization of $233.31 million, a PE ratio of -1.55 and a beta of 2.27.

COMPASS Pathways (NASDAQ:CMPS) last posted its earnings results on Thursday, October 31st. The company reported ($0.56) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.04. During the same period last year, the company posted ($0.67) EPS. Research analysts expect that COMPASS Pathways will post -2.33 EPS for the current year.

Hedge Funds Weigh In On COMPASS Pathways

Several hedge funds and other institutional investors have recently made changes to their positions in CMPS. Hennion & Walsh Asset Management Inc. increased its stake in COMPASS Pathways by 18.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 174,921 shares of the company’s stock valued at $661,000 after acquiring an additional 26,787 shares during the last quarter. Green Alpha Advisors LLC increased its stake in shares of COMPASS Pathways by 138.3% in the 4th quarter. Green Alpha Advisors LLC now owns 37,614 shares of the company’s stock valued at $142,000 after purchasing an additional 21,833 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of COMPASS Pathways by 4.4% during the 3rd quarter. Franklin Resources Inc. now owns 295,785 shares of the company’s stock worth $1,810,000 after buying an additional 12,599 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of COMPASS Pathways by 160.3% during the 3rd quarter. Geode Capital Management LLC now owns 42,169 shares of the company’s stock worth $266,000 after buying an additional 25,970 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of COMPASS Pathways during the 3rd quarter worth $131,000. 46.19% of the stock is currently owned by institutional investors and hedge funds.

COMPASS Pathways Company Profile

COMPASS Pathways plc operates as a mental health care company in the United Kingdom and the United States. It develops COMP360, a psilocybin therapy that is in Phase III clinical trials for the treatment of treatment-resistant depression; and is in Phase II clinical trials for the treatment of post-traumatic stress disorder and anorexia nervosa.