Brokerages Set COMPASS Pathways plc (NASDAQ:CMPS) Target Price at $47.40

COMPASS Pathways plc (NASDAQ:CMPS) has been assigned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have covered the stock in the last year is $30.67.

CMPS has been the subject of several research analyst reports. HC Wainwright dropped their target price on shares of COMPASS Pathways from $120.00 to $60.00 and set a “buy” rating for the company in a research report on Friday. Royal Bank of Canada dropped their price objective on shares of COMPASS Pathways from $23.00 to $18.00 and set an “outperform” rating for the company in a report on Friday. Maxim Group reduced their target price on COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of COMPASS Pathways in a research note on Monday, September 9th. Finally, Canaccord Genuity Group reduced their price objective on COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd.

COMPASS Pathways Stock Down 0.2 %

CMPS opened at $4.75 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 12.03 and a quick ratio of 12.03. COMPASS Pathways has a one year low of $4.05 and a one year high of $12.75. The firm has a market capitalization of $324.84 million, a P/E ratio of -2.16 and a beta of 2.29. The company has a fifty day moving average price of $6.61 and a 200-day moving average price of $7.05.

COMPASS Pathways (NASDAQ:CMPS) last released its quarterly 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 firm earned ($0.62) earnings per share. Equities research analysts expect that COMPASS Pathways will post -2.35 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of COMPASS Pathways stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $6.05, for a total value of $16,093,000.00. Following the transaction, the insider now directly owns 6,905,774 shares of the company’s stock, valued at $41,779,932.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.25% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Blue Trust Inc. purchased a new position in shares of COMPASS Pathways during the second quarter valued at approximately $81,000. Green Alpha Advisors LLC bought a new stake in COMPASS Pathways in the third quarter valued at $99,000. Kennedy Capital Management LLC purchased a new position in COMPASS Pathways during the 1st quarter valued at $139,000. Tidal Investments LLC raised its holdings in COMPASS Pathways by 43.6% in the 1st quarter. Tidal Investments LLC now owns 19,082 shares of the company’s stock worth $159,000 after purchasing an additional 5,795 shares in the last quarter. Finally, Fore Capital LLC purchased a new stake in shares of COMPASS Pathways in the 2nd quarter worth about $181,000. Hedge funds and other institutional investors 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.