Royal Bank Of Canada Forecasts Strong Price Appreciation for COMPASS Pathways (NASDAQ:CMPS) Stock

COMPASS Pathways (NASDAQ:CMPS) had its target price raised by analysts at Royal Bank Of Canada from $16.00 to $21.00 in a report issued on Friday, MarketBeat reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 192.89% from the company’s current price.

Several other research analysts have also issued reports on CMPS. BTIG Research upped their target price on shares of COMPASS Pathways from $7.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of COMPASS Pathways in a report on Wednesday. Finally, Morgan Stanley raised their price objective on COMPASS Pathways from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.25.

COMPASS Pathways Stock Up 0.6%

CMPS stock opened at $7.17 on Friday. The company’s 50 day moving average is $6.42 and its 200 day moving average is $5.60. The stock has a market cap of $688.44 million, a price-to-earnings ratio of -2.64 and a beta of 1.92. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.55. COMPASS Pathways has a 1-year low of $2.25 and a 1-year high of $8.20.

COMPASS Pathways (NASDAQ:CMPS) last announced its earnings results on Tuesday, November 4th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.02. Sell-side analysts predict that COMPASS Pathways will post -2.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC bought a new stake in shares of COMPASS Pathways during the third quarter valued at approximately $41,000. BIT Capital GmbH bought a new position in shares of COMPASS Pathways in the 3rd quarter worth about $54,000. Raymond James Financial Inc. lifted its position in COMPASS Pathways by 82.7% during the 3rd quarter. Raymond James Financial Inc. now owns 13,763 shares of the company’s stock valued at $79,000 after acquiring an additional 6,228 shares during the period. U.S. Capital Wealth Advisors LLC bought a new stake in COMPASS Pathways during the fourth quarter worth about $104,000. Finally, CWM LLC grew its holdings in COMPASS Pathways by 19.2% in the third quarter. CWM LLC now owns 15,650 shares of the company’s stock worth $90,000 after purchasing an additional 2,525 shares during the period. Institutional investors own 46.19% of the company’s stock.

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.