Analyst Vikram Purohit of Morgan Stanley maintained a Buy rating on COMPASS Pathways (CMPS – Research Report), retaining the price target of $17.00.
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Vikram Purohit’s rating is based on several promising developments within COMPASS Pathways. The company is on track with its timelines for key clinical trials, specifically the COMP005 study, which is expected to provide significant data on the efficacy of COMP360 in treating treatment-resistant depression (TRD) by late June. This upcoming data could potentially impact the stock price by 25%-50%, with a more optimistic outlook on the results.
Additionally, COMPASS Pathways has a strong financial position with a cash balance that is anticipated to support operations through the second half of 2026. The company is also preparing for the commercialization of COMP360 in the U.S., assuming regulatory approval, and is working on expanding its manufacturing capabilities to the U.S. These strategic moves, along with the anticipated data readouts, contribute to the positive outlook and the Buy rating for the stock.
In another report released on May 13, Maxim Group also maintained a Buy rating on the stock with a $12.00 price target.