Advancing COMP360 From Binary Clinical Risk to Scaled Commercial Opportunity: Buy Rating Reaffirmed on De-Risked TRD Launch and PTSD Upside

H.C. Wainwright analyst Patrick Trucchio has reiterated their bullish stance on CMPS stock, giving a Buy rating today.

Patrick Trucchio has given his Buy rating due to a combination of factors tied to COMP360’s advancing development and de-risked commercial path. He highlights that COMPASS is moving from proof-of-concept into large-scale execution, with pivotal programs in both treatment-resistant depression (TRD) and post-traumatic stress disorder (PTSD), and an accelerated plan toward a rolling NDA submission and potential launch by the end of 2026. The recent investor and KOL event, in his view, clarified how launch, payer positioning, and prescriber adoption could play out, while also establishing PTSD as a second meaningful registrational opportunity that may need only a single pivotal study. Collectively, these points shift the story from a binary clinical risk narrative to one focused on scale, durability of use, and long-term market penetration, supporting his reaffirmed $40 price target.

Trucchio also sees the commercial setup in TRD as substantially de-risked by the existing interventional psychiatry infrastructure built around SPRAVATO, which provides an established network of thousands of potential treatment centers. He points to new CPT codes tailored specifically to psychedelic administration that enable clinics to bill for the full monitoring period, solving economic issues that constrained SPRAVATO adoption, and the ability to use a broader range of licensed healthcare professionals for monitoring, which eases staffing constraints. In addition, he views the planned distribution strategy—starting with specialty pharmacy and scaling into buy-and-bill—as pragmatic and aligned with how high-volume centers typically evolve. From a payer standpoint, he believes COMP360’s six-week efficacy window is already competitively attractive versus current TRD options, with any longer-lasting benefit representing incremental upside rather than a requirement for coverage, all of which underpins his conviction in a Buy rating ahead of multiple 2026 catalysts.

According to TipRanks, Trucchio is a top 100 analyst with an average return of 33.6% and a 56.01% success rate. Trucchio covers the Healthcare sector, focusing on stocks such as Precision BioSciences, Aligos Therapeutics, and Assembly Biosciences.

In another report released today, Stifel Nicolaus also reiterated a Buy rating on the stock with a $11.00 price target.