Royal Bank of Canada Reaffirms "Outperform" Rating for COMPASS Pathways (NASDAQ:CMPS)

COMPASS Pathways (NASDAQ:CMPS - Get Free Report)'s stock had its "outperform" rating restated by stock analysts at Royal Bank of Canada in a report issued on Wednesday,Benzinga reports. They presently have a $18.00 target price on the stock. Royal Bank of Canada's target price would indicate a potential upside of 421.74% from the company's current price.

Several other brokerages have also recently weighed in on CMPS. Maxim Group lowered their target price on COMPASS Pathways from $22.00 to $12.00 and set a "buy" rating for the company in a report on Friday, November 1st. HC Wainwright lowered their price objective on shares of COMPASS Pathways from $120.00 to $60.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, COMPASS Pathways has a consensus rating of "Buy" and an average price target of $33.60.

COMPASS Pathways Trading Up 2.7 %

Shares of CMPS traded up $0.09 during trading hours on Wednesday, reaching $3.45. 1,133,633 shares of the company traded hands, compared to its average volume of 1,581,387. The stock's fifty day moving average price is $4.38 and its 200 day moving average price is $5.91. The company has a current ratio of 8.91, a quick ratio of 8.91 and a debt-to-equity ratio of 0.15. The firm has a market cap of $236.05 million, a price-to-earnings ratio of -1.57 and a beta of 2.27. COMPASS Pathways has a 12-month low of $3.16 and a 12-month high of $12.75.

COMPASS Pathways (NASDAQ:CMPS - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported ($0.56) EPS for the quarter, topping analysts' consensus estimates of ($0.60) by $0.04. During the same quarter in the prior year, the company earned ($0.67) earnings per share. Sell-side analysts forecast that COMPASS Pathways will post -2.33 earnings per share for the current year.

Institutional Investors Weigh In On COMPASS Pathways

Hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. increased its position in shares of COMPASS Pathways by 4.4% during the third quarter. Franklin Resources Inc. now owns 295,785 shares of the company's stock worth $1,810,000 after purchasing an additional 12,599 shares in the last quarter. Green Alpha Advisors LLC acquired a new position in COMPASS Pathways during the 3rd quarter valued at about $99,000. Y Intercept Hong Kong Ltd purchased a new stake in COMPASS Pathways in the third quarter valued at about $131,000. Geode Capital Management LLC boosted its holdings in COMPASS Pathways by 160.3% in the third quarter. Geode Capital Management LLC now owns 42,169 shares of the company's stock worth $266,000 after acquiring an additional 25,970 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of COMPASS Pathways by 18.1% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 174,921 shares of the company's stock worth $661,000 after acquiring an additional 26,787 shares during the last quarter. 46.19% of the stock is currently owned by hedge funds and other institutional investors.

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.