COMPASS Pathways (NASDAQ:CMPS) Given New $15.00 Price Target at Canaccord Genuity Group

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

CMPS has been the topic of a number of other reports. HC Wainwright lowered their price target on shares of COMPASS Pathways from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Stifel Nicolaus initiated coverage on shares of COMPASS Pathways in a research note on Thursday. They issued a “buy” rating and a $11.00 price objective on the stock. Maxim Group lowered their price objective on shares of COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 price objective on shares of COMPASS Pathways in a research note on Wednesday, January 15th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, COMPASS Pathways presently has an average rating of “Buy” and a consensus target price of $21.83.

COMPASS Pathways Stock Performance

NASDAQ:CMPS opened at $3.93 on Friday. 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 has a fifty-two week low of $3.16 and a fifty-two week high of $12.57. The stock has a market cap of $268.89 million, a PE ratio of -1.79 and a beta of 2.28. The firm’s fifty day simple moving average is $4.06 and its 200-day simple moving average is $5.24.

COMPASS Pathways (NASDAQ:CMPS) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.01). Analysts expect that COMPASS Pathways will post -2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. purchased a new position in COMPASS Pathways in the 4th quarter valued at about $41,000. Wealthfront Advisers LLC purchased a new position in COMPASS Pathways in the 4th quarter valued at about $43,000. Flagship Harbor Advisors LLC purchased a new position in COMPASS Pathways in the 4th quarter valued at about $43,000. Conservest Capital Advisors Inc. lifted its holdings 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 purchasing an additional 3,000 shares in the last quarter. Finally, Simplify Asset Management Inc. purchased a new position in COMPASS Pathways in the 4th quarter valued at about $54,000. 46.19% of the stock is currently owned by hedge funds and other institutional investors.

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.