Stifel Reiterates Buy Rating on Compass Therapeutics (CMPX)

Stifel analyst Stephen Willey reiterated a Buy rating and $6.00 price target on Compass Therapeutics (NASDAQ: CMPX).

The analyst comments "We’ve maintained (incorrectly) a positive bias on regulatory feedback re: tovecimig full approval prospects given 1) the clearly confounding effect of patient crossover on COMPANION-002 survival data; 2) the absence of any FDA-approved therapies in 2L BTC; and 3) KOL feedback suggesting a drug reducing risk of disease progression by >50% and improving crossover-agnostic survival by ~3 months gets used in all 2L BTC patients lacking actionable genomic alterations. Management is interpreting FDA’s feedback to be specific to full approval and intends to reengage the agency re: accelerated approval prospects (with a confirmatory P3 trial design in-hand) and submit a 1H27 BLA regardless (referencing REPL as a proxy here). The meaningfully reduced visibility into tovecimig commercialization prospects (and uncertainty re: additional resources/time required to realize) now definitively resets this narrative. However, we believe the <$100M fully-diluted EV now implied here doesn’t sufficiently reflect 4Q26 catalysts from a differentiated earlier-stage pipeline."

For an analyst ratings summary and ratings history on Compass Therapeutics click here. For more ratings news on Compass Therapeutics click here.

Shares of Compass Therapeutics closed at $1.82 yesterday.

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