Compass Pathways price target lowered to $12 from $22 at Maxim

Maxim lowered the firm’s price target on Compass Pathways (CMPS) to $12 from $22 and keeps a Buy rating on the shares. The firm cites the company having announced a delay to the data readout for the COMP005 Phase 3 program, pushing-out its estimates on commercialization to 2028 from 2026 and are re-evaulating capital needs to reflect the longer time to market and expectation of financing ahead of the confirmatory readout, the analyst tells investors in a research note.