Royal Bank of Canada Reaffirms Outperform Rating for COMPASS Pathways (NASDAQ:CMPS)

Royal Bank of Canada reiterated their outperform rating on shares of COMPASS Pathways (NASDAQ:CMPS) in a research report report published on Tuesday, Benzinga reports. They currently have a $23.00 price target on the stock.

CMPS has been the topic of a number of other reports. Cantor Fitzgerald restated an overweight rating on shares of COMPASS Pathways in a research note on Monday. HC Wainwright reissued a buy rating and set a $120.00 target price on shares of COMPASS Pathways in a research note on Friday, August 23rd. Finally, Canaccord Genuity Group reduced their price objective on shares of COMPASS Pathways from $50.00 to $48.00 and set a buy rating for the company in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, COMPASS Pathways has a consensus rating of Buy and an average price target of $47.40.

COMPASS Pathways Stock Performance

CMPS stock opened at $6.78 on Tuesday. COMPASS Pathways has a one year low of $5.01 and a one year high of $12.75. The firm has a market cap of $463.62 million, a price-to-earnings ratio of -2.86 and a beta of 2.27. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.03 and a current ratio of 12.03. The firm has a 50-day simple moving average of $7.13 and a two-hundred day simple moving average of $7.96.

COMPASS Pathways (NASDAQ:CMPS) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.03). During the same period in the prior year, the firm posted ($0.62) earnings per share. On average, equities analysts forecast that COMPASS Pathways will post -2.35 EPS for the current fiscal year.

Institutional Investors Weigh In On COMPASS Pathways

A number of institutional investors have recently modified their holdings of the stock. Jump Financial LLC acquired a new stake in COMPASS Pathways during the fourth quarter valued at approximately $371,000. Quest Partners LLC bought a new position in COMPASS Pathways during the fourth quarter worth $33,000. Affinity Asset Advisors LLC acquired a new position in COMPASS Pathways in the fourth quarter worth $4,812,000. PFM Health Sciences LP increased its stake in COMPASS Pathways by 540.7% during the fourth quarter. PFM Health Sciences LP now owns 338,761 shares of the company’s stock valued at $2,964,000 after purchasing an additional 285,890 shares during the last quarter. Finally, Chesapeake Capital Corp IL acquired a new stake in COMPASS Pathways during the first quarter worth about $189,000. 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.