COMPASS Pathways (NASDAQ:CMPS) Receives “Outperform” Rating from Royal Bank of Canada

COMPASS Pathways (NASDAQ:CMPS)‘s stock had its “outperform” rating reissued by Royal Bank of Canada in a note issued to investors on Wednesday,Benzinga reports. They currently have a $18.00 price objective on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 424.78% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Maxim Group reduced their price objective on shares of COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, November 1st. HC Wainwright dropped their target price on shares of COMPASS Pathways from $120.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, COMPASS Pathways currently has a consensus rating of “Buy” and an average price target of $33.60.

COMPASS Pathways Stock Performance

CMPS stock traded up $0.07 during midday trading on Wednesday, reaching $3.43. 140,368 shares of the company’s stock traded hands, compared to its average volume of 1,460,773. The stock’s 50-day moving average is $4.38 and its 200 day moving average 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 stock has a market cap of $234.68 million, a P/E ratio of -1.56 and a beta of 2.27. COMPASS Pathways has a 52-week low of $3.16 and a 52-week high of $12.75.

COMPASS Pathways (NASDAQ:CMPS) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.04. During the same quarter in the previous year, the firm earned ($0.67) earnings per share. As a group, analysts anticipate that COMPASS Pathways will post -2.33 EPS for the current year.

Hedge Funds Weigh In On COMPASS Pathways

Several institutional investors have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. lifted its position in COMPASS Pathways by 18.1% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 174,921 shares of the company’s stock valued at $661,000 after purchasing an additional 26,787 shares during the last quarter. Green Alpha Advisors LLC lifted its position in COMPASS Pathways by 138.3% during the fourth quarter. Green Alpha Advisors LLC now owns 37,614 shares of the company’s stock valued at $142,000 after purchasing an additional 21,833 shares during the last quarter. Franklin Resources Inc. lifted its position in COMPASS Pathways by 4.4% during the third quarter. Franklin Resources Inc. now owns 295,785 shares of the company’s stock valued at $1,810,000 after purchasing an additional 12,599 shares during the last quarter. Geode Capital Management LLC lifted its position in COMPASS Pathways by 160.3% during the third quarter. Geode Capital Management LLC now owns 42,169 shares of the company’s stock valued at $266,000 after purchasing an additional 25,970 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in COMPASS Pathways during the third quarter valued at $131,000. 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.