Compass Pathways price target raised to $22 from $21 at RBC Capital

RBC Capital raised the firm’s price target on Compass Pathways (CMPS) to $22 from $21 and keeps an Outperform rating on the shares after the company announced that it has achieved primary endpoint in Phase 3 trial of COMP006 for treatment-resistant depression. There were no red flags in the data and the firm sees COMP360 as effective in treating treatment-resistant depression, with durable long-lasting effects out to 6 months in patients who respond with just 1 or 2 doses and all with a simple dosing schedule and clean safety profile, the analyst tells investors in a research note.