Stifel Starts Compass Pathways (CMPS) at Buy

Stifel analyst Paul Matteis initiates coverage on Compass Pathways (NASDAQ: CMPS) with a Buy rating and a price target of $11.00.

The analyst comments "We are initiating on CMPS with a Buy rating and an $11 target price. We believe we’re on the cusp of an inflection point in the psychedelic space, where major stakeholders—FDA, CNS thought leaders, and physicians/prescribers—are coalescing around a view that psychedelics are likely to become a major drug class within neuropsychiatry. And while each product has its nuances, to us, the commercial success of Spravato offers major validation that the intermittent psychedelic treatment model for depression is scalable. As it relates to CMPS, we believe the company is well positioned over the next ~18 months to derisk COMP360 (psilocybin) across two ph3 studies, the first of which is set to read out in 2Q25. For the stock, CMPS shares are currently trading well below the IPO price in 2020, offering an attractive opportunity here ahead of what we think should be positive clinical data in the backdrop of FDA alignment."

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

Shares of Compass Pathways closed at $3.65 yesterday.

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