COMPASS Pathways (NASDAQ:CMPS) Price Target Cut to $35.00 by Analysts at Cantor Fitzgerald

COMPASS Pathways (NASDAQ:CMPS – Get Rating) had its target price trimmed by Cantor Fitzgerald from $58.00 to $35.00 in a report released on Friday morning, The Fly reports.

Separately, Citigroup reduced their target price on COMPASS Pathways from $49.00 to $46.00 and set a buy rating on the stock in a report on Friday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, COMPASS Pathways currently has an average rating of Buy and an average price target of $74.33.

COMPASS Pathways Trading Up 14.7 %

NASDAQ CMPS opened at $20.07 on Friday. COMPASS Pathways has a 1-year low of $6.54 and a 1-year high of $49.51. The company has a 50 day moving average of $11.95 and a 200-day moving average of $12.21. The company has a market cap of $853.18 million, a price-to-earnings ratio of -10.09 and a beta of 2.54.

COMPASS Pathways (NASDAQ:CMPS – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.50) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.18. During the same quarter last year, the company earned ($0.35) earnings per share. On average, equities research analysts forecast that COMPASS Pathways will post -2.45 earnings per share for the current year.

Hedge Funds Weigh In On COMPASS Pathways

Several institutional investors have recently made changes to their positions in the stock. Nikko Asset Management Americas Inc. acquired a new position in shares of COMPASS Pathways during the second quarter valued at about $909,000. Banque Cantonale Vaudoise increased its position in shares of COMPASS Pathways by 191.3% during the second quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the company’s stock worth $32,000 after acquiring an additional 1,970 shares in the last quarter. Brown University bought a new stake in shares of COMPASS Pathways during the second quarter worth about $787,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of COMPASS Pathways by 7.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 183,246 shares of the company’s stock worth $1,983,000 after acquiring an additional 12,039 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of COMPASS Pathways during the second quarter worth about $983,000. Institutional investors and hedge funds own 17.86% of the company’s stock.

COMPASS Pathways Company Profile

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COMPASS Pathways plc operates as a mental health care company primarily in the United Kingdom and the United States. It develops COMP360, a psilocybin therapy that has completed Phase IIb clinical trials for the treatment of treatment-resistant depression; and is in Phase II clinical trials for the treatment of post-traumatic stress disorder.