COMPASS Pathways (CMPS – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Ritu Baral from TD Cowen maintained a Buy rating on the stock and has a $23.00 price target.
Ritu Baral has given her Buy rating due to a combination of factors related to COMPASS Pathways’ ongoing clinical trials and financial health. The company is progressing well with its Phase 3 trials for its COMP360 treatment, with key data expected soon. The anticipation of positive outcomes from these trials, particularly the potential of COMP360 to show significant antidepressant effects, supports a positive outlook for the stock.
Additionally, the company’s financial position appears robust, with a cash runway extending into the second half of 2026. This financial stability, along with the optimistic views from key opinion leaders about the safety and efficacy of COMP360, further reinforces the Buy rating. The management’s confidence in addressing potential safety concerns, particularly regarding suicidality, adds to the positive sentiment surrounding the company’s future prospects.
In another report released on May 1, H.C. Wainwright also reiterated a Buy rating on the stock with a $45.00 price target.