Compass Pathways Plc (CMPS)
NASDAQ:CMPS
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COMPASS Pathways
(NASDAQ:CMPS)
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Rating:64Neutral
Price Target:
$11.50
▲(72.67% Upside)
Action:Reiterated
Date:05/14/26
The score reflects high financial risk from ongoing losses and material cash burn, partly offset by low debt and improved TTM equity. Technicals are strong with price well above key moving averages and positive MACD, and the latest earnings call was notably positive on Phase III/regulatory progress and runway, tempered by remaining regulatory, rescheduling/REMS, and reimbursement execution risks.
Positive Factors
Robust Phase III clinical dataset
Two pivotal Phase III trials plus >1,000 patients and unprecedented 26-week blinded follow-up provide durable evidence of efficacy and safety. Consistent clinically meaningful responses (≈25%–40%) and durability materially strengthen regulatory credibility and the clinical differentiation needed for long-term adoption.
Negative Factors
Persistent negative operating cash flow
The company is pre-revenue with TTM free cash flow around -$160M and sustained negative operating cash flow. Continued high burn creates structural dependence on external financing until product revenue emerges, raising dilution and execution risk if approval or commercial uptake is delayed.
Read all positive and negative factors
Positive Factors
Negative Factors
Robust Phase III clinical dataset
Two pivotal Phase III trials plus >1,000 patients and unprecedented 26-week blinded follow-up provide durable evidence of efficacy and safety. Consistent clinically meaningful responses (≈25%–40%) and durability materially strengthen regulatory credibility and the clinical differentiation needed for long-term adoption.
Read all positive factors
COMPASS Pathways (CMPS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.40B
Dividend YieldN/A
Average Volume (3M)4.97M
Price to Earnings (P/E)1.7
Beta (1Y)1.57
Revenue GrowthN/A
EPS Growth-9.94%
CountryUS
Employees166
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)-2.15
Shares Outstanding134,949,330
10 Day Avg. Volume3,840,436
30 Day Avg. Volume4,972,745
Financial Highlights & Ratios
PEG Ratio-0.07
Price to Book (P/B)-12.21
Price to Sales (P/S)0.00
P/FCF Ratio-4.10
Enterprise Value/Market Cap0.39
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/Ebitda-1.77
Forecast
1Y Price Target
$23.50Price Target Upside252.85% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering12
EPS Forecast (FY)-0.99
Revenue Forecast (FY)$2.73M
COMPASS Pathways Business Overview & Revenue Model
Company Description
COMPASS Pathways plc operates as a mental health care company primarily in the United Kingdom and the United States. It develops COMP360, a psilocybin therapy that has completed Phase IIb clinical trials for the treatment of treatment-resistant de...
How the Company Makes Money
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COMPASS Pathways Earnings Call Summary
Earnings Call Date:May 13, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call emphasized strong clinical momentum (positive Phase III results, >1,000 patients in the program), concrete regulatory progress (rolling NDA alignment and a Commissioner's National Priority Voucher) and active commercial preparedness (experienced hires, CPT code groundwork, VA engagement and state-level rescheduling progress). These material positives are balanced against remaining execution and timing risks — notably pending 26-week data to complete the submission, CPT valuation and RUC/CMS steps, DEA/federal rescheduling sequencing, REMS and payer negotiation uncertainties, and competitive dynamics. Overall, the company presented multiple compelling strengths and a clear launch plan while acknowledging the remaining regulatory, reimbursement and operational work required before broad patient access.Positive Updates
Positive Phase III Results & Robust Clinical Dataset
COMP360 produced positive data from two pivotal Phase III trials (005 and 006) with the program enrolling over 1,000 patients across late-stage studies and over 800 participants from the two pivotal Phase III trials. Trials were blinded for an unprecedented 26 weeks for psychiatry, supporting claims of clinically meaningful, rapid onset and extended durability. Reported response metrics included ~25% clinically meaningful response from a single administration (005) and ~40% with the addition of a second fixed dose (006). Safety, preclinical toxicology and CMC data cited as comprehensive and supportive for NDA.
Negative Updates
Regulatory Timing & Uncertainty (AdCom & DEA Sequencing)
Key regulatory elements remain uncertain: whether the FDA will convene an advisory committee (AdCom) is unknown and could affect timing. Although a CNPV was awarded, the formal accelerated review clock only begins after the final NDA submission and DEA rescheduling remains a sequential process that could still introduce timing variability despite executive order intent.
Read all updates
Q1-2026 Updates
Positive
Negative
Positive Phase III Results & Robust Clinical Dataset
COMP360 produced positive data from two pivotal Phase III trials (005 and 006) with the program enrolling over 1,000 patients across late-stage studies and over 800 participants from the two pivotal Phase III trials. Trials were blinded for an unprecedented 26 weeks for psychiatry, supporting claims of clinically meaningful, rapid onset and extended durability. Reported response metrics included ~25% clinically meaningful response from a single administration (005) and ~40% with the addition of a second fixed dose (006). Safety, preclinical toxicology and CMC data cited as comprehensive and supportive for NDA.
Read all positive updates
Company Guidance
COMPASS reiterated that it is on a rolling NDA submission with the FDA, expects Part B (26‑week) data from COMP006 in early Q3 2026 (the final dataset to complete the submission), is targeting being launch‑ready by the end of 2026, and—having been awarded a Commissioner’s National Priority Voucher—could see an ultra‑accelerated FDA review of ~1–2 months after final submission; the company says it has run >1,000 patients in the program (including >800 across two pivotal Phase III trials with unprecedented 26‑week blinded follow‑up and 52‑week data running in parallel), reported a 25% clinically meaningful response after a single dose in 005 and 40% with a second fixed dose in 006, and has cash runway into 2028 following Q1 financing/warrant exercises; commercial and access metrics highlighted include ~4 million U.S. TRD patients, ~13 million Americans with PTSD, Spravato’s ~ $3B projected revenue by 2027 while treating <2% of TRD as of 2025, ~7,500 interventional clinics in market, CPT Category III codes billable by the hour (pathway to Category I), buy‑and‑bill penetration of ~35–45%, nearly 90% of the U.S. population in states intending to reschedule within 30 days of federal action, and expectations that REMS and DEA rescheduling work will be coordinated to enable rapid patient access.COMPASS Pathways Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
48
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -312.09M | -285.60M | -148.82M | -115.24M | -90.77M | -71.37M |
| Net Income | -178.95M | -287.86M | -155.12M | -118.46M | -91.50M | -71.74M |
Balance Sheet | ||||||
| Total Assets | 531.74M | 210.35M | 213.67M | 275.99M | 197.29M | 300.90M |
| Cash, Cash Equivalents and Short-Term Investments | 466.01M | 149.61M | 165.08M | 220.20M | 143.21M | 273.24M |
| Total Debt | 2.83M | 20.93M | 32.19M | 33.05M | 1.93M | 3.61M |
| Total Liabilities | 205.05M | 263.20M | 58.97M | 50.24M | 16.01M | 16.49M |
| Stockholders Equity | 326.69M | -52.85M | 154.69M | 225.74M | 181.28M | 284.41M |
Cash Flow | ||||||
| Free Cash Flow | -159.52M | -157.24M | -119.19M | -97.44M | -106.05M | -68.08M |
| Operating Cash Flow | -159.52M | -157.24M | -119.19M | -97.38M | -105.45M | -67.75M |
| Investing Cash Flow | 0.00 | 0.00 | 0.00 | -64.00K | -596.00K | -334.00K |
| Financing Cash Flow | 362.81M | 140.71M | 63.82M | 173.83M | 1.04M | 156.65M |
COMPASS Pathways Technical Analysis
Positive
6.66
Price Trends
7.43
Positive
7.21
Positive
6.36
Positive
Market Momentum
0.88
Negative
64.72
Neutral
61.84
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CMPS, the sentiment is Positive. The current price of 6.66 is below the 20-day moving average (MA) of 9.50, below the 50-day MA of 7.43, and above the 200-day MA of 6.36, indicating a bullish trend. The MACD of 0.88 indicates Negative momentum. The RSI at 64.72 is Neutral, neither overbought nor oversold. The STOCH value of 61.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CMPS.
COMPASS Pathways Risk Analysis
COMPASS Pathways disclosed 100 risk factors in its most recent earnings report. COMPASS Pathways reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
COMPASS Pathways Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $871.07M | -34.59 | 1.03% | ― | 22.64% | -58.05% | |
64 Neutral | $1.40B | 1.67 | -151.02% | ― | ― | -9.94% | |
60 Neutral | $424.53M | -17.34 | -27.10% | ― | -20.37% | -479.68% | |
56 Neutral | $1.36B | 1.10 | -146.01% | ― | -2.82% | -45.70% | |
55 Neutral | $966.44M | -9.24 | -9.20% | ― | 14.13% | 62.92% | |
54 Neutral | $397.93M | -313.53 | 326.77% | ― | 35.37% | 46.10% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
CMPS
COMPASS Pathways
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142.76%
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COMPASS Pathways Corporate Events
Business Operations and StrategyPrivate Placements and Financing
COMPASS Pathways Announces $150 Million Public Offering
Positive
Feb 19, 2026
On February 18, 2026, Compass Pathways priced an underwritten public offering of 17.5 million American Depositary Shares at $8.00 each and pre-funded warrants for 1.25 million ADSs at $7.9999, with underwriters granted a 30-day option to buy up to...
Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
COMPASS Pathways Reports Positive Phase 3 Results in TRD
Positive
Feb 17, 2026
On February 17, 2026, COMPASS Pathways reported that its second Phase 3 trial, COMP006, met its primary endpoint, with two 25 mg doses of COMP360 psilocybin given three weeks apart showing a highly statistically significant and clinically meaningf...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.