Analysts Set COMPASS Pathways plc (NASDAQ:CMPS) Target Price at $21.83

Shares of COMPASS Pathways plc (NASDAQ:CMPS) have earned a consensus recommendation of “Buy” from the seven analysts that are covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have issued a report on the stock in the last year is $21.83.

Several equities research analysts have recently issued reports on CMPS shares. Stifel Nicolaus assumed coverage on COMPASS Pathways in a research note on Thursday, February 27th. They issued a “buy” rating and a $11.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $45.00 target price on shares of COMPASS Pathways in a research report on Tuesday, March 4th. Canaccord Genuity Group cut their target price on COMPASS Pathways from $23.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $18.00 target price on shares of COMPASS Pathways in a research report on Wednesday, January 15th.

COMPASS Pathways Trading Down 7.0 %

CMPS stock opened at $3.74 on Wednesday. The firm has a fifty day moving average price of $4.04 and a 200 day moving average price of $5.12. COMPASS Pathways has a fifty-two week low of $3.17 and a fifty-two week high of $11.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 8.91 and a current ratio of 8.91. The firm has a market cap of $255.89 million, a PE ratio of -1.70 and a beta of 2.29.

COMPASS Pathways (NASDAQ:CMPS) last posted its 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). Sell-side analysts anticipate 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 large investors have recently bought and sold shares of CMPS. RTW Investments LP purchased a new position in COMPASS Pathways during the 4th quarter valued at $11,714,000. Altium Capital Management LLC purchased a new stake in COMPASS Pathways in the 4th quarter valued at about $5,384,000. Tang Capital Management LLC bought a new position in COMPASS Pathways in the 4th quarter worth about $3,780,000. Nantahala Capital Management LLC increased its position in shares of COMPASS Pathways by 400.0% during the fourth quarter. Nantahala Capital Management LLC now owns 1,000,000 shares of the company’s stock worth $3,780,000 after acquiring an additional 800,000 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in shares of COMPASS Pathways during the fourth quarter valued at approximately $2,458,000. Hedge funds and other institutional investors 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.