tiprankstipranks
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.

Don't Miss our Black Friday Offers:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App