Morgan Stanley analyst Vikram Purohit raised the firm’s price target on Compass Pathways (CMPS) to $18 from $11 and keeps an Overweight rating on the shares. Compass’ initial COMP006 data and longer duration COMP005 data within its Phase 3 pivotal trial program further underscores the rapidity of effect seen in Part A of COMP005, notes the analyst, who sees improved odds of success of 70%, up from 60% odds previously assigned for the treatment-resistant depression indication.
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