B. Riley Financial Begins Coverage on Compass Pathways (NASDAQ:CMPS)

Stock analysts at B. Riley Financial assumed coverage on shares of Compass Pathways (NASDAQ:CMPS) in a research report issued on Friday, Marketbeat reports. The brokerage set a “buy” rating and a $17.00 price target on the stock. B. Riley Financial’s target price points to a potential upside of 77.45% from the company’s previous close.

A number of other analysts also recently commented on CMPS. Lifesci Capital upgraded shares of Compass Pathways to a “strong-buy” rating in a report on Thursday, February 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Compass Pathways in a report on Monday, April 20th. BTIG Research reiterated a “buy” rating and issued a $14.00 target price on shares of Compass Pathways in a report on Monday, April 20th. Morgan Stanley dropped their target price on shares of Compass Pathways from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. Finally, Canaccord Genuity Group dropped their target price on shares of Compass Pathways from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Compass Pathways has a consensus rating of “Moderate Buy” and a consensus target price of $20.70.

Compass Pathways Stock Up 4.7%

NASDAQ CMPS opened at $9.58 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.77 and a quick ratio of 0.77. The company’s 50 day simple moving average is $6.68 and its 200 day simple moving average is $6.46. Compass Pathways has a 12 month low of $2.25 and a 12 month high of $10.21. The company has a market capitalization of $1.24 billion, a P/E ratio of -3.10 and a beta of 2.01.

Compass Pathways (NASDAQ:CMPS) last released its earnings results on Tuesday, March 24th. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.59). Equities research analysts expect that Compass Pathways will post -1.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CMPS. Persistent Asset Partners Ltd bought a new stake in Compass Pathways in the fourth quarter worth approximately $38,000. Caitong International Asset Management Co. Ltd bought a new stake in Compass Pathways in the fourth quarter worth approximately $47,000. Advisory Services Network LLC bought a new stake in Compass Pathways in the third quarter worth approximately $41,000. North Star Investment Management Corp. grew its position in Compass Pathways by 1,354.0% in the first quarter. North Star Investment Management Corp. now owns 7,517 shares of the company’s stock worth $42,000 after acquiring an additional 7,000 shares in the last quarter. Finally, BIT Capital GmbH bought a new stake in Compass Pathways in the third quarter worth approximately $54,000. 46.19% of the stock is owned by hedge funds and other institutional investors.

Compass Pathways Company Profile

Compass Pathways (NASDAQ: CMPS) is a clinical-stage biotechnology company focused on the development and commercialization of psilocybin therapy for mental health disorders. Founded in 2016 and headquartered in London with additional offices in the United States, Compass Pathways is pioneering the use of synthetic psilocybin combined with psychotherapy to address treatment-resistant depression. The company’s flagship program is a Phase IIb clinical trial evaluating COMP360, its proprietary psilocybin formulation, which has received Breakthrough Therapy designation from the U.S.