tiprankstipranks
Trending News
More News >

Compass Pathways downgraded to In Line from Outperform at Evercore ISI

Evercore ISI downgraded Compass Pathways (CMPS) to In Line from Outperform with a price target of $6, down from $11, after the company reported Phase 3 results from their first placebo-controlled trial of psilocybin. The MADRS effect size of 3.6 points “underwhelmed” and the statement from the DSMB on suicidal ideation “seems fine,” the analyst tells investors. This dataset does indicate Compass “may have an approvable drug, but as the firm notes that it highlighted in its recent psychedelic expert calls and its Mind Medicine (MNMD) initiation, durability is a key component for commercial success and this will remain a question with relatively unclear durability in the Phase 2b and a weaker effect at 6 weeks here, the analyst tells investors.

Don’t Miss TipRanks’ Half-Year Sale

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & DisclosureReport an Issue

1