H.C. Wainwright analyst Patrick Trucchio reiterated a Buy rating on COMPASS Pathways (CMPS – Research Report) today and set a price target of $45.00.
Patrick Trucchio has given his Buy rating due to a combination of factors that highlight COMPASS Pathways’ potential for significant growth in the neuropsychiatry field. The company is advancing its COMP360 treatment, which has shown promising rapid efficacy and potential durability in treatment-resistant depression (TRD), positioning it as a transformative option compared to existing treatments like SPRAVATO. With pivotal Phase 3 trials underway and expected data releases in 2025 and 2026, COMPASS is poised to address a substantial unmet need in the TRD market.
Additionally, COMPASS Pathways is expanding its focus beyond TRD to include other psychiatric conditions such as post-traumatic stress disorder (PTSD) and anorexia nervosa, with trials planned or ongoing in these areas. The recent $140 million financing ensures the company is well-funded to continue its research and development efforts into 2026. Strategic collaborations are also being established to support future commercial success. Trucchio believes that the current stock valuation does not fully capture the potential market opportunity for COMP360, which could become a blockbuster treatment if approved.
Trucchio covers the Healthcare sector, focusing on stocks such as Harmony Biosciences Holdings, Sangamo Biosciences, and Beam Therapeutics. According to TipRanks, Trucchio has an average return of -5.0% and a 29.10% success rate on recommended stocks.
In another report released on March 2, BTIG also maintained a Buy rating on the stock with a $12.00 price target.