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

COMPASS Pathways (NASDAQ:CMPS) had its target price dropped by equities researchers at Canaccord Genuity Group from $23.00 to $15.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 281.68% from the company’s previous close.

CMPS has been the topic of a number of other research reports. Royal Bank of Canada reissued an “outperform” rating and set a $18.00 price objective on shares of COMPASS Pathways in a report on Wednesday, January 15th. Maxim Group cut their price objective on shares of COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Stifel Nicolaus initiated coverage on shares of COMPASS Pathways in a report on Thursday. They set a “buy” rating and a $11.00 price objective on the stock. Finally, HC Wainwright cut their price objective on shares of COMPASS Pathways from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Seven 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 price target of $21.83.

COMPASS Pathways Stock Up 0.3 %

Shares of NASDAQ:CMPS opened at $3.93 on Friday. The firm’s 50 day moving average price is $4.06 and its 200 day moving average price is $5.24. The stock has a market cap of $268.89 million, a price-to-earnings 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 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 issued its earnings results on Thursday, February 27th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.01). As a group, equities research analysts predict that COMPASS Pathways will post -2.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On COMPASS Pathways

A number of institutional investors have recently modified their holdings of CMPS. Rosalind Advisors Inc. increased its holdings in shares of COMPASS Pathways by 6.5% in the 3rd quarter. Rosalind Advisors Inc. now owns 781,423 shares of the company’s stock valued at $4,923,000 after acquiring an additional 47,423 shares during the period. Propel Bio Management LLC acquired a new position in shares of COMPASS Pathways in the 3rd quarter valued at $504,000. Acuta Capital Partners LLC acquired a new position in shares of COMPASS Pathways in the 3rd quarter valued at $2,435,000. Walleye Capital LLC acquired a new position in shares of COMPASS Pathways in the 3rd quarter valued at $2,126,000. Finally, Sio Capital Management LLC increased its holdings in shares of COMPASS Pathways by 211.7% in the 3rd quarter. Sio Capital Management LLC now owns 914,639 shares of the company’s stock valued at $5,762,000 after acquiring an additional 621,222 shares during the period. 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.