Compass Pathways price target lowered to $18 from $23 at RBC Capital
The Fly

Compass Pathways price target lowered to $18 from $23 at RBC Capital

RBC Capital lowered the firm’s price target on Compass Pathways (CMPS) to $18 from $23 but keeps an Outperform rating on the shares after its Q3 results. The timing delays to both Phase 3 trials are disappointing as they push out near-term catalysts, but the firm does not believe they ultimately impact its 70% probability of success assumption, and if anything, for COMP006, more time could help strengthen the package in the eyes of regulators, the analyst tells investors in a research note.

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