Jefferies initiated coverage of Compass Pathways (CMPS) with a Buy rating and $18 price target. The firm is 75%-85% confident the FDA will approve COMP360, the company’s oral psilocybin for treatment-resistant depression, in FY26, the analyst tells investors. Additionally, Jefferies believes COMP360’s launch prospects are favorable, noting its potential as the first-to-market will drive public awareness and its differentiation from Johnson & Johnson’s (JNJ) Spravato.
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