COMPASS Pathways (NASDAQ:CMPS) Price Target Lowered to $15.00 at Canaccord Genuity Group

COMPASS Pathways (NASDAQ:CMPS) had its target price reduced by analysts at Canaccord Genuity Group from $23.00 to $15.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 276.88% from the stock’s current price.

Several other research analysts have also recently commented on the stock. Stifel Nicolaus started coverage on shares of COMPASS Pathways in a report on Thursday. They set a “buy” rating and a $11.00 target price for the company. Maxim Group decreased their price objective on COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating for the company in a report on Friday, November 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $18.00 target price on shares of COMPASS Pathways in a report on Wednesday, January 15th. Finally, HC Wainwright lowered their price target on COMPASS Pathways from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $21.83.

COMPASS Pathways Stock Up 1.5 %

Shares of NASDAQ:CMPS traded up $0.06 during midday trading on Friday, reaching $3.98. 318,709 shares of the company were exchanged, compared to its average volume of 1,247,916. The firm has a market cap of $272.32 million, a PE ratio of -1.79 and a beta of 2.28. COMPASS Pathways has a fifty-two week low of $3.16 and a fifty-two week high of $12.57. The stock has a fifty day simple moving average of $4.06 and a two-hundred day simple moving average of $5.28. The company has a quick ratio of 8.91, a current ratio of 8.91 and a debt-to-equity ratio of 0.15.

COMPASS Pathways (NASDAQ:CMPS) last announced its 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, sell-side analysts forecast that COMPASS Pathways will post -2.33 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. acquired a new stake in COMPASS Pathways during the 4th quarter valued at $41,000. Flagship Harbor Advisors LLC acquired a new stake in shares of COMPASS Pathways during the 4th quarter worth about $43,000. Wealthfront Advisers LLC bought a new stake in shares of COMPASS Pathways during the 4th quarter worth about $43,000. Conservest Capital Advisors Inc. grew its stake in COMPASS Pathways by 28.9% in the 4th quarter. Conservest Capital Advisors Inc. now owns 13,363 shares of the company’s stock valued at $51,000 after buying an additional 3,000 shares during the last quarter. Finally, Simplify Asset Management Inc. bought a new position in COMPASS Pathways in the 4th quarter valued at about $54,000. 46.19% of the stock is owned by institutional investors and hedge funds.

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.