Craig-Hallum bullish on Compass Therapeutics, initiates with a Buy

As previously reported, Craig-Hallum initiated coverage of Compass Therapeutics (CMPX) with a Buy rating and $15 price target The firm says Compass has a deep pipeline of next-gen bispecifics targeting angiogenesis and checkpoint inhibition to treat cancer. The company’s expertise in developing BsAbs that leverage these synergistic mechanisms of action is shown by lead asset Tovecimig, Craig-Hallum argues, adding that Tovecimig has already met the primary ORR endpoint of a Phase III 2L BTC study and PFS/OS data is expected in March. The firm expects these data to support a potential 2027 commercial launch in 2L biliary tract cancer, where he models a $1B peak sales opportunity. Craig-Hallum also sees significant upside potential in Compass’s early-stage pipeline.