COMPASS Pathways (NASDAQ:CMPS) Stock Rating Reaffirmed by Royal Bank of Canada

COMPASS Pathways (NASDAQ:CMPS)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank of Canada in a research report issued on Tuesday, Benzinga reports. They presently have a $23.00 target price on the stock. Royal Bank of Canada’s target price suggests a potential upside of 235.77% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of COMPASS Pathways in a report on Monday. Canaccord Genuity Group reduced their target price on shares of COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $120.00 target price on shares of COMPASS Pathways in a report on Friday, August 23rd. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $47.40.

COMPASS Pathways Trading Up 0.6 %

NASDAQ CMPS opened at $6.85 on Tuesday. The firm has a 50 day simple moving average of $7.12 and a 200-day simple moving average of $7.97. The firm has a market cap of $468.41 million, a price-to-earnings ratio of -2.89 and a beta of 2.27. COMPASS Pathways has a one year low of $5.01 and a one year high of $12.75. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.03 and a current ratio of 12.03.

COMPASS Pathways (NASDAQ:CMPS) last issued its earnings results on Thursday, August 1st. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.03). During the same quarter in the previous year, the business earned ($0.62) EPS. Equities research analysts anticipate that COMPASS Pathways will post -2.35 EPS for the current fiscal year.

Institutional Trading of COMPASS Pathways

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Affinity Asset Advisors LLC acquired a new stake in COMPASS Pathways during the fourth quarter worth approximately $4,812,000. Quest Partners LLC purchased a new position in shares of COMPASS Pathways during the fourth quarter worth approximately $33,000. Hennion & Walsh Asset Management Inc. purchased a new position in shares of COMPASS Pathways during the second quarter worth approximately $664,000. Jump Financial LLC purchased a new position in shares of COMPASS Pathways during the fourth quarter worth approximately $371,000. Finally, Tidal Investments LLC grew its position in shares of COMPASS Pathways by 43.6% during the first quarter. Tidal Investments LLC now owns 19,082 shares of the company’s stock worth $159,000 after acquiring an additional 5,795 shares during the last quarter. Institutional investors and hedge funds own 46.19% of the company’s stock.

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.