Canaccord Genuity Group Cuts COMPASS Pathways (NASDAQ:CMPS) Price Target to $48.00

COMPASS Pathways (NASDAQ:CMPS) had its price target trimmed by Canaccord Genuity Group from $50.00 to $48.00 in a report released on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also commented on the company. HC Wainwright reiterated a buy rating and issued a $120.00 price target on shares of COMPASS Pathways in a research report on Wednesday, July 31st. Cantor Fitzgerald reiterated an overweight rating on shares of COMPASS Pathways in a report on Friday, June 21st. Finally, Royal Bank of Canada started coverage on shares of COMPASS Pathways in a report on Tuesday, July 23rd. They set an outperform rating and a $23.00 price target for the company. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of Buy and a consensus target price of $43.00.

COMPASS Pathways Trading Up 2.8 %

NASDAQ:CMPS traded up $0.19 during mid-day trading on Friday, hitting $7.07. 307,528 shares of the company’s stock were exchanged, compared to its average volume of 556,635. COMPASS Pathways has a fifty-two week low of $5.01 and a fifty-two week high of $12.75. The company has a current ratio of 15.23, a quick ratio of 15.23 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $483.45 million, a P/E ratio of -3.00 and a beta of 2.27. The company has a 50 day simple moving average of $6.88 and a 200-day simple moving average of $8.57.

COMPASS Pathways (NASDAQ:CMPS) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.03). During the same quarter in the previous year, the company earned ($0.62) EPS. As a group, research analysts expect that COMPASS Pathways will post -2.24 earnings per share for the current year.

Institutional Investors Weigh In On COMPASS Pathways

Several large investors have recently added to or reduced their stakes in CMPS. Affinity Asset Advisors LLC bought a new position in shares of COMPASS Pathways during the 4th quarter worth approximately $4,812,000. PFM Health Sciences LP boosted 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 worth $2,964,000 after acquiring an additional 285,890 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in COMPASS Pathways in the second quarter worth $664,000. SVB Wealth LLC acquired a new position in shares of COMPASS Pathways during the first quarter valued at about $443,000. Finally, Jump Financial LLC bought a new position in shares of COMPASS Pathways during the 4th quarter worth about $371,000. 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.