Compass Pathways (NASDAQ:CMPS) Issues Earnings Results, Misses Estimates By $0.20 EPS

Compass Pathways (NASDAQ:CMPS) issued its quarterly earnings data on Tuesday. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.20), Zacks reports.

Compass Pathways Price Performance

CMPS stock traded up $0.47 during midday trading on Wednesday, reaching $5.68. The stock had a trading volume of 938,652 shares, compared to its average volume of 2,991,815. Compass Pathways has a 52-week low of $2.25 and a 52-week high of $8.90. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.55. The company’s fifty day simple moving average is $6.78 and its 200 day simple moving average is $6.30. The company has a market cap of $545.87 million, a price-to-earnings ratio of -2.08 and a beta of 1.90.

Analyst Ratings Changes

A number of brokerages have issued reports on CMPS. Lifesci Capital upgraded shares of Compass Pathways to a “strong-buy” rating in a report on Thursday, February 12th. Compass Point set a $15.00 price objective on shares of Compass Pathways in a report on Thursday, February 12th. Morgan Stanley increased their target price on shares of Compass Pathways from $11.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Royal Bank Of Canada upped their target price on Compass Pathways from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Finally, Canaccord Genuity Group boosted their price target on Compass Pathways from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $22.12.

Institutional Trading of Compass Pathways

Hedge funds have recently bought and sold shares of the business. Persistent Asset Partners Ltd purchased a new position in shares of Compass Pathways during the fourth quarter worth approximately $38,000. Advisory Services Network LLC acquired a new stake in Compass Pathways during the 3rd quarter worth $41,000. MML Investors Services LLC purchased a new position in Compass Pathways during the 4th quarter worth $69,000. Magnetar Financial LLC purchased a new position in Compass Pathways during the 4th quarter worth $91,000. Finally, Raymond James Financial Inc. increased its stake in Compass Pathways by 82.7% in the third quarter. Raymond James Financial Inc. now owns 13,763 shares of the company’s stock valued at $79,000 after purchasing an additional 6,228 shares during the period. Institutional investors and hedge funds own 46.19% of the company’s stock.

Compass Pathways Company Profile

Compass Pathways (NASDAQ: CMPS) is a clinical-stage biotechnology company focused on the development and commercialization of psilocybin therapy for mental health disorders. Founded in 2016 and headquartered in London with additional offices in the United States, Compass Pathways is pioneering the use of synthetic psilocybin combined with psychotherapy to address treatment-resistant depression. The company’s flagship program is a Phase IIb clinical trial evaluating COMP360, its proprietary psilocybin formulation, which has received Breakthrough Therapy designation from the U.S.