Compass Pathways price target lowered to $33 from $55 at Oppenheimer

Oppenheimer analyst Francois Brisebois lowered the firm’s price target on Compass Pathways to $33 from $55 and keeps an Outperform rating on the shares, citing difficult market conditions. Compass presented new data from an open-label Investigator-Initiated Trial of 25mg COMP360 for Bipolar type II depression and post-hoc analysis from the successful Phase 2b in TRD at ACNP, and Brisebois believes early positive signals, including a substantial reduction in depressive symptoms in 12/14 participants from baseline, is promising, the analyst tells investors in a research note.