EF Hutton analyst Elemer Piros initiated coverage of Compass Pathways with a Buy rating and $38 price target. Compass is expected to become the first to treat refractory depression with a psychedelic drug, Piros tells investors in a research note. The analyst says the company is in a leading position to bring psilocybin to the treatment-resistant depression market worldwide, by conducting clinical trials acceptable to regulatory agencies.
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