COMPASS Pathways’ (CMPS) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of COMPASS Pathways (NASDAQ:CMPS) in a research report report published on Friday morning,Benzinga reports.

CMPS has been the topic of several other research reports. Stifel Nicolaus initiated coverage on COMPASS Pathways in a research note on Thursday, February 27th. They issued a “buy” rating and a $11.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $45.00 target price on shares of COMPASS Pathways in a research note on Tuesday, March 4th. Royal Bank of Canada reissued an “outperform” rating and set a $18.00 price target on shares of COMPASS Pathways in a research report on Wednesday, January 15th. Finally, Canaccord Genuity Group cut their price target on shares of COMPASS Pathways from $23.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, COMPASS Pathways currently has a consensus rating of “Buy” and a consensus price target of $21.83.

COMPASS Pathways Stock Down 4.9 %

Shares of NASDAQ:CMPS opened at $2.94 on Friday. The company has a market capitalization of $272.46 million, a price-to-earnings ratio of -1.34 and a beta of 2.29. The company has a 50 day moving average of $3.86 and a two-hundred day moving average of $4.70. COMPASS Pathways has a 52-week low of $2.88 and a 52-week high of $10.31. 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 released 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). As a group, analysts forecast 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 hedge funds have recently added to or reduced their stakes in the business. RTW Investments LP acquired a new stake in shares of COMPASS Pathways during the fourth quarter worth $11,714,000. Altium Capital Management LLC bought a new position in COMPASS Pathways in the fourth quarter worth about $5,384,000. Tang Capital Management LLC bought a new position in COMPASS Pathways in the fourth quarter worth about $3,780,000. Nantahala Capital Management LLC boosted its stake in COMPASS Pathways by 400.0% in the fourth quarter. Nantahala Capital Management LLC now owns 1,000,000 shares of the company’s stock valued at $3,780,000 after acquiring an additional 800,000 shares during the period. Finally, Balyasny Asset Management L.P. bought a new position in shares of COMPASS Pathways during the fourth quarter valued at approximately $2,458,000. Institutional investors and hedge funds 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.