COMPASS Pathways (NASDAQ:CMPS) Given New $15.00 Price Target at Canaccord Genuity Group

COMPASS Pathways (NASDAQ:CMPS) had its price target reduced by stock analysts at Canaccord Genuity Group from $23.00 to $15.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 276.88% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Maxim Group reduced their price objective on shares of COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 price objective on shares of COMPASS Pathways in a research note on Wednesday, January 15th. HC Wainwright cut their target price on COMPASS Pathways from $60.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Stifel Nicolaus started coverage on COMPASS Pathways in a research note on Thursday. They issued a “buy” rating and a $11.00 price target on the stock. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $21.83.

COMPASS Pathways Stock Performance

NASDAQ CMPS traded up $0.06 during trading on Friday, reaching $3.98. The company’s stock had a trading volume of 318,709 shares, compared to its average volume of 1,247,916. COMPASS Pathways has a 12 month low of $3.16 and a 12 month high of $12.57. The firm has a 50 day moving average price of $4.06 and a 200 day moving average price of $5.28. The firm has a market capitalization of $272.32 million, a price-to-earnings ratio of -1.79 and a beta of 2.28. The company has a current ratio of 8.91, a quick ratio of 8.91 and a debt-to-equity ratio of 0.15.

COMPASS Pathways (NASDAQ:CMPS) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.01). As a group, equities analysts anticipate that COMPASS Pathways will post -2.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CMPS. RTW Investments LP acquired a new position in COMPASS Pathways in the 4th quarter worth about $11,714,000. Altium Capital Management LLC bought a new stake in shares of COMPASS Pathways during the fourth quarter worth about $5,384,000. Nantahala Capital Management LLC increased its stake in shares of COMPASS Pathways by 400.0% in the fourth quarter. Nantahala Capital Management LLC now owns 1,000,000 shares of the company’s stock valued at $3,780,000 after buying an additional 800,000 shares during the period. Tang Capital Management LLC bought a new position in COMPASS Pathways in the 4th quarter valued at approximately $3,780,000. Finally, Sio Capital Management LLC boosted its position in COMPASS Pathways by 211.7% during 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 period. 46.19% of the stock is currently owned by institutional investors.

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.