Compass Pathways

CMPS · NASDAQ

$11.90+$0.79 (+7.11%)TodayMarket closed · Oct 20, 7:50 PM ET

Prev close $11.11

CMPS analyst rating

BuyConsensus of 13 analysts over the last 12 months. 92% rate it a buy.

Strong buy0
Buy12
Hold1
Underperform0
Sell0

12-month price target · 20 analysts

Average $22.41 (+88.3% upside)

Low: $13.13
Now: $11.90
High: $68.25

Upgrades and downgrades

The latest rating actions, newest first

CMPS analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
HC Wainwright & Co.	Aug 7, 2026	Maintains	Buy	$70.00 → $65.00	33%
Morgan Stanley	Aug 6, 2026	Maintains	Overweight	$17.00 → $18.00	57%
RBC Capital	Aug 6, 2026	Maintains	Outperform	$22.00 → $21.00	49%
B. Riley Securities	Aug 6, 2026	Maintains	Buy	$17.00 → $22.00	30%
Wells Fargo	Jul 27, 2026	Initiates	Equal-Weight	$13.00	29%
HC Wainwright & Co.	Jul 8, 2026	Maintains	Buy	$70.00	33%
Evercore ISI Group	Jul 8, 2026	Upgrade	In-Line → Outperform	$8.00 → $21.00	42%
Stifel	Jul 8, 2026	Maintains	Buy	$14.00 → $21.00	41%
Morgan Stanley	Jul 7, 2026	Maintains	Overweight	$17.00	57%
Oppenheimer	Jul 7, 2026	Maintains	Outperform	$20.00	35%

The case for and against

Updated Oct 14, 2026

Bull case

Compass Pathways is supported by a de-risked regulatory and clinical trajectory, with the rolling NDA for COMP360 in treatment-resistant depression already partially submitted, FDA actively reviewing modules, and final submission still on track for 4Q26 ahead of a potential 1H27 launch subject to FDA approval and DEA rescheduling. Its Phase 3 data strengthened the commercial case by showing rapid, durable benefit and clean safety, while the company enters this phase with $433.3 million of cash and runway into 2028, enough to fund launch execution. The outlook is further reinforced by unusually strong prelaunch demand signals, an expanding infrastructure of more than 8,000 certified sites, and a second growth avenue in the 300-patient Phase 2b/3 PTSD program, which broadens long-term upside in an underserved market.

Bear case

Compass Pathways is exposed to substantial clinical and regulatory execution risk because COMP360 is still under FDA review, the DEA rescheduling path remains unresolved, and launch depends on both federal and state action before commercialization can begin. Although the company had $433 million in cash and cash equivalents as of June 30, its higher-than-expected operating expenses and the need to fund trials, manufacturing readiness, and regulatory work leave it vulnerable to dilution or slower development if setbacks occur. The investment case is further weakened by commercialization, reimbursement, pricing, and competitor risks, while the company’s own model reflects a slower TRD launch despite still assuming about $3.8 billion in risk-adjusted peak annual revenues in 2037.

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