COMPASS Pathways (NASDAQ:CMPS) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research cut shares of COMPASS Pathways (NASDAQ:CMPS) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “COMPASS Pathways plc is a mental health care company. It operates principally in New York, USA. COMPASS Pathways plc is headquartered in London, UK. “

CMPS has been the topic of a number of other reports. Cantor Fitzgerald raised their price target on COMPASS Pathways from $71.00 to $82.00 and gave the stock an overweight rating in a research note on Tuesday, November 9th. They noted that the move was a valuation call. Roth Capital lifted their target price on COMPASS Pathways from $79.00 to $117.00 and gave the company a buy rating in a research report on Tuesday, November 9th. Citigroup lifted their target price on COMPASS Pathways from $66.00 to $70.00 and gave the company a buy rating in a research report on Tuesday, November 9th. HC Wainwright lifted their target price on COMPASS Pathways from $100.00 to $120.00 and gave the company a buy rating in a research report on Monday, November 22nd. Finally, Oppenheimer began coverage on COMPASS Pathways in a research report on Thursday, October 28th. They set an outperform rating and a $50.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $74.50.

COMPASS Pathways stock opened at $17.90 on Tuesday. The firm has a market cap of $746.98 million, a price-to-earnings ratio of -10.59 and a beta of 3.65. The stock has a fifty day simple moving average of $26.93 and a two-hundred day simple moving average of $31.82. COMPASS Pathways has a 12 month low of $17.00 and a 12 month high of $58.62.

COMPASS Pathways (NASDAQ:CMPS) last posted its earnings results on Monday, November 8th. The company reported ($0.38) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.49) by $0.11. On average, research analysts expect that COMPASS Pathways will post -1.68 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Advisor Group Holdings Inc. lifted its position in shares of COMPASS Pathways by 83.3% in the second quarter. Advisor Group Holdings Inc. now owns 1,283 shares of the company’s stock valued at $48,000 after acquiring an additional 583 shares in the last quarter. BDO Wealth Advisors LLC lifted its position in shares of COMPASS Pathways by 270.0% in the second quarter. BDO Wealth Advisors LLC now owns 2,035 shares of the company’s stock valued at $78,000 after acquiring an additional 1,485 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of COMPASS Pathways by 24.0% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,665 shares of the company’s stock worth $80,000 after purchasing an additional 516 shares during the last quarter. UBS Group AG increased its holdings in shares of COMPASS Pathways by 31.7% in the third quarter. UBS Group AG now owns 3,777 shares of the company’s stock worth $114,000 after purchasing an additional 910 shares during the last quarter. Finally, Koshinski Asset Management Inc. bought a new stake in shares of COMPASS Pathways in the third quarter worth about $118,000. Institutional investors and hedge funds own 17.86% 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 formulation that is in Phase IIb clinical trial to treat patients with treatment-resistant depression. The company was formerly known as COMPASS Rx Limited and changed its name to COMPASS Pathways plc in August 2020.

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