COMPASS Pathways (NASDAQ:CMPS) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of COMPASS Pathways (NASDAQ:CMPS) in a research report released on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has a $18.00 target price on the stock.

Several other equities research analysts also recently weighed in on CMPS. Maxim Group decreased their price target 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 reduced their target price on 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 research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $33.60.

COMPASS Pathways Stock Performance

Shares of COMPASS Pathways stock opened at $3.45 on Wednesday. The stock’s 50-day moving average is $4.38 and its 200 day moving average is $5.91. The company has a debt-to-equity ratio of 0.15, a quick ratio of 8.91 and a current ratio of 8.91. COMPASS Pathways has a one year low of $3.16 and a one year high of $12.75.

COMPASS Pathways (NASDAQ:CMPS) last posted its quarterly earnings results 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 period in the prior year, the firm earned ($0.67) EPS. As a group, equities analysts anticipate that COMPASS Pathways will post -2.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Green Alpha Advisors LLC bought a new position in COMPASS Pathways in the 3rd quarter valued at about $99,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of COMPASS Pathways in the third quarter worth approximately $131,000. Geode Capital Management LLC raised its stake in shares of 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 purchasing an additional 25,970 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of COMPASS Pathways in the third quarter valued at approximately $371,000. Finally, Propel Bio Management LLC purchased a new position in shares of COMPASS Pathways during the third quarter valued at approximately $504,000. 46.19% of the stock is currently owned by institutional investors and hedge funds.

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.