Compass Pathways (CMPS) PT Raised to $22 at RBC Capital

RBC Capital analyst Leonid Timashev raised the price target on Compass Pathways (NASDAQ: CMPS) to $22.00 (from $21.00) while maintaining an Outperform rating.

The analyst commented: "Today, CMPS presented data from its 2nd successful ph. III as well as longer-term follow-up data from '005, and we had a chance to catch up with mgmt for additional color. In our view, there were no red flags in the data, with a thread story - COMP360 is effective in treating treatment-resistant depression, can have durable long-lasting effects out to 6 months in patients who respond with just 1 or 2 doses, all with a simple dosing schedule and clean safety profile. In totality, the data points the way forward to approval and commercialization by 2027, which can enable the company to capitalize on a >$1.6B opportunity. We would be buyers into strength, and our price target goes to $22 on increased PoS."

You May Also Be Interested In