Ritu Baral, an analyst from TD Cowen, maintained the Buy rating on COMPASS Pathways. The associated price target is $23.00.
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Ritu Baral’s rating is based on several promising developments for COMPASS Pathways. The company has successfully accelerated the timeline for its Phase 3 trial data release, moving the anticipated release of topline data for study ‘006 to the first quarter of 2026. This acceleration is expected to bring forward the potential launch of their treatment for treatment-resistant depression by 9 to 12 months, which is a significant positive for the company’s prospects.
Additionally, COMPASS Pathways has demonstrated strong financial management, with a cash runway extending to 2027, which provides a stable foundation for continued research and development. The recent positive meeting with the FDA regarding submission strategies further supports the potential for a rolling submission, enhancing the likelihood of a timely approval process. These factors collectively contribute to the optimistic outlook and Buy rating given by Ritu Baral.
According to TipRanks, Baral is a top 100 analyst with an average return of 34.9% and a 56.94% success rate. Baral covers the Healthcare sector, focusing on stocks such as Insmed, ACADIA Pharmaceuticals, and Alnylam Pharma.