De-Risked Clinical Profile and Growing Commercial Infrastructure Support Buy Rating on COMPASS Pathways’ COMP360

Thomas Shrader, an analyst from BTIG, maintained the Buy rating on COMPASS Pathways. The associated price target remains the same with $14.00.

Thomas Shrader has given his Buy rating due to a combination of factors that, in his view, materially de‑risk COMPASS Pathways’ lead asset and support a compelling commercialization setup. He notes that the FDA appears comfortable with a real‑world PTSD trial design for COMP360, which he interprets as regulatory confidence in both the therapy and the significant unmet need in this high‑risk population. He also views the upcoming 006 Part A data as relatively low risk, given the strong consistency between prior Phase 2 and the first Phase 3 results, and he expects a treatment effect difference between the low and high dose that is broadly comparable to or better than existing options like SPRAVATO, especially in highly treatment‑resistant patients. In his assessment, detailed data on durability of response from ongoing studies, including longer‑term re‑dosing data, should further underscore the clinical value proposition.

Shrader further emphasizes the company’s commercial readiness and infrastructure build‑out as key drivers of his positive view. He highlights strong interest from interventional psychiatry networks that are eager for validated alternatives to current therapies and are already working with CMPS to create controlled, high‑quality delivery environments for COMP360. These collaborations, including the recently announced partnership with Radial Health and others similar to established networks in the space, are expected to support scalable access, reimbursement execution, and integration with complementary modalities such as TMS and psychotherapy. Underpinning his rating is a discounted cash flow valuation framework that, in his analysis, supports upside to the current share price when factoring in the clinical profile, perceived regulatory momentum, and the emerging treatment ecosystem around COMP360.

According to TipRanks, Shrader is a 4-star analyst with an average return of 4.7% and a 39.88% success rate. Shrader covers the Healthcare sector, focusing on stocks such as Gain Therapeutics, Aldeyra Therapeutics, and NRX Pharmaceuticals.

In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $40.00 price target.