Compass Pathways price target lowered to $15 from $23 at Canaccord

Canaccord analyst Sumant Kulkarni lowered the firm’s price target on Compass Pathways (CMPS) to $15 from $23 and keeps a Buy rating on the shares. The firm said the key update was that the company is on track to report top-line 6-week data from its COMP005 Phase 3 trial for COMP360 (psilocybin) for treatment-resistant depression (TRD) in 2Q25; the trial is roughly 90% enrolled and they believe the company has the potential to generate significant upside.