COMPASS Pathways plc (NASDAQ:CMPS) Receives Average Recommendation of “Buy” from Brokerages

COMPASS Pathways plc (NASDAQ:CMPS) has earned an average recommendation of “Buy” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have covered the stock in the last year is $21.83.

Several research analysts have recently weighed in on CMPS shares. Canaccord Genuity Group lowered their price objective on COMPASS Pathways from $23.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Stifel Nicolaus assumed coverage on COMPASS Pathways in a research note on Thursday, February 27th. They issued a “buy” rating and a $11.00 target price for the company. HC Wainwright restated a “buy” rating and issued a $45.00 target price on shares of COMPASS Pathways in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $18.00 target price on shares of COMPASS Pathways in a research note on Wednesday, January 15th.

COMPASS Pathways Stock Performance

CMPS stock opened at $3.60 on Wednesday. The stock has a 50-day moving average price of $4.04 and a 200-day moving average price of $5.07. COMPASS Pathways has a 1-year low of $3.17 and a 1-year high of $11.18. The company has a current ratio of 8.91, a quick ratio of 8.91 and a debt-to-equity ratio of 0.15. The firm has a market cap of $333.62 million, a PE ratio of -1.64 and a beta of 2.29.

COMPASS Pathways (NASDAQ:CMPS) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.01). As a group, equities research analysts expect that COMPASS Pathways will post -2.33 earnings per share for the current year.

Hedge Funds Weigh In On COMPASS Pathways

A number of hedge funds have recently added to or reduced their stakes in CMPS. Rosalind Advisors Inc. boosted its stake in COMPASS Pathways by 6.5% during the 3rd quarter. Rosalind Advisors Inc. now owns 781,423 shares of the company’s stock valued at $4,923,000 after purchasing an additional 47,423 shares during the last quarter. Propel Bio Management LLC purchased a new position in shares of COMPASS Pathways in the 3rd quarter worth approximately $504,000. Acuta Capital Partners LLC purchased a new position in shares of COMPASS Pathways in the 3rd quarter worth approximately $2,435,000. Walleye Capital LLC purchased a new position in shares of COMPASS Pathways in the 3rd quarter worth approximately $2,126,000. Finally, Sio Capital Management LLC boosted its stake in shares of COMPASS Pathways by 211.7% in the 3rd quarter. Sio Capital Management LLC now owns 914,639 shares of the company’s stock worth $5,762,000 after buying an additional 621,222 shares during the last quarter. Institutional investors and hedge funds own 46.19% of the company’s stock.

About COMPASS Pathways

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.