Compass downgrade ‘curious,’ presents upside, says H.C. Wainwright

H.C. Wainwright analyst Joseph Pantginis says Leerink this morning downgraded Compass Therapeutics (CMPX) saying the company’s biliary tract cancer opportunity is priced into the shares. Leerink reduced its price target to $4 from $5, “still with significant upside; we’re not sure how this makes sense,” the analyst tells investors in a research note. H.C. Wainwright believes Compass is trading “well below its upside potential” and says the current valuation “presents multiple points for upside.” It believes Compass “is approaching significant catalysts in an underappreciated position” and reiterates a Buy rating on the shares with a $10 price target