Canaccord analyst Sumant Kulkarni said the weakness in Compass Pathways (CMPS) following the release of top-line results from its eagerly-awaited COMP005 Phase 3 trial for COMP360 (psilocybin) in treatment-resistant depression (TRD). COMP006, a second Phase 3 trial, is a buying opportunity. Canaccord believes updates from the FDA could eventually move the stock and there is no change tpo their model pending additional data. Canaccord reiterates its Buy rating and $15 price target on Compass Pathways shares.
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