COMPASS Pathways (NASDAQ:CMPS) Price Target Lowered to $15.00 at Canaccord Genuity Group

COMPASS Pathways (NASDAQ:CMPS) had its target price decreased by Canaccord Genuity Group from $23.00 to $15.00 in a research note published on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

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

COMPASS Pathways Trading Up 0.3 %

NASDAQ CMPS opened at $3.93 on Friday. The stock has a 50-day moving average of $4.06 and a 200-day moving average of $5.26. The company has a current ratio of 8.91, a quick ratio of 8.91 and a debt-to-equity ratio of 0.15. COMPASS Pathways has a 1-year low of $3.16 and a 1-year high of $12.57. The firm has a market cap of $268.89 million, a PE ratio of -1.79 and a beta of 2.28.

COMPASS Pathways (NASDAQ:CMPS) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.01). As a group, sell-side analysts forecast that COMPASS Pathways will post -2.33 EPS for the current year.

Hedge Funds Weigh In On COMPASS Pathways

Hedge funds and other institutional investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. purchased a new stake in COMPASS Pathways in the fourth quarter worth about $41,000. Flagship Harbor Advisors LLC bought a new position in shares of COMPASS Pathways in the 4th quarter worth approximately $43,000. Wealthfront Advisers LLC purchased a new position in shares of COMPASS Pathways in the 4th quarter valued at approximately $43,000. Conservest Capital Advisors Inc. lifted its stake in shares of 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 during the period. Finally, Simplify Asset Management Inc. bought a new stake in shares of COMPASS Pathways during the fourth quarter valued at approximately $54,000. 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.