Brokerages Set COMPASS Pathways plc (NASDAQ:CMPS) Target Price at $47.40

Shares of COMPASS Pathways plc (NASDAQ:CMPS) have been given an average rating of “Buy” by the six analysts that are covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $47.40.

CMPS has been the topic of a number of recent research reports. Royal Bank of Canada assumed coverage on COMPASS Pathways in a research report on Tuesday, July 23rd. They issued an “outperform” rating and a $23.00 target price on the stock. Canaccord Genuity Group lowered their price objective on shares of COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. HC Wainwright restated a “buy” rating and set a $120.00 target price on shares of COMPASS Pathways in a report on Friday. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of COMPASS Pathways in a research note on Friday, June 21st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CMPS. Quest Partners LLC acquired a new stake in COMPASS Pathways in the 4th quarter valued at about $33,000. Blue Trust Inc. bought a new position in shares of COMPASS Pathways during the 2nd quarter worth approximately $81,000. Conservest Capital Advisors Inc. acquired a new position in shares of COMPASS Pathways during the 4th quarter worth approximately $91,000. EWA LLC bought a new stake in COMPASS Pathways in the 4th quarter valued at $107,000. Finally, Kennedy Capital Management LLC acquired a new stake in COMPASS Pathways during the 1st quarter valued at $139,000. Institutional investors own 46.19% of the company’s stock.

COMPASS Pathways Stock Up 3.5 %

COMPASS Pathways stock opened at $7.19 on Friday. The company has a 50 day moving average of $6.84 and a 200-day moving average of $8.28. The company has a quick ratio of 15.23, a current ratio of 15.23 and a debt-to-equity ratio of 0.12. COMPASS Pathways has a twelve month low of $5.01 and a twelve month high of $12.75. The stock has a market capitalization of $491.66 million, a PE ratio of -3.03 and a beta of 2.27.

COMPASS Pathways (NASDAQ:CMPS) last announced its earnings results on Thursday, August 1st. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.03). During the same period in the previous year, the business earned ($0.62) EPS. On average, equities research analysts anticipate that COMPASS Pathways will post -2.24 EPS for the current fiscal year.

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.