Analysts Offer Insights on Healthcare Companies: COMPASS Pathways (CMPS) and GH Research (GHRS)
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COMPASS Pathways (CMPS)
In a report issued on May 8, Leonid Timashev from RBC Capital maintained a Buy rating on COMPASS Pathways, with a price target of $15.00. The company's shares closed last Monday at $3.91, close to its 52-week low of $2.88.
According to TipRanks.com, Timashev is a 2-star analyst with an average return of -0.5% and a 31.6% success rate. Timashev covers the Healthcare sector, focusing on stocks such as NewAmsterdam Pharma Company, Edgewise Therapeutics, and Axsome Therapeutics.
COMPASS Pathways has an analyst consensus of Strong Buy, with a price target consensus of $18.75, representing a 368.8% upside. In a report issued on May 8, TD Cowen also maintained a Buy rating on the stock with a $23.00 price target.
GH Research (GHRS)
RBC Capital analyst Brian Abrahams maintained a Buy rating on GH Research on May 8 and set a price target of $32.00. The company's shares closed last Monday at $10.16.
According to TipRanks.com, Abrahams ' ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -3.0% and a 40.0% success rate. Abrahams covers the Healthcare sector, focusing on stocks such as Aardvark Therapeutics, Inc., MoonLake Immunotherapeutics, and Neumora Therapeutics, Inc.
Currently, the analyst consensus on GH Research is a Strong Buy with an average price target of $31.43, representing a 199.9% upside. In a report issued on May 9, Guggenheim also maintained a Buy rating on the stock with a $29.00 price target.
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H.C. Wainwright lowered the firm's price target on Compass Pathways (CMPS) to $40 from $45 and keeps a Buy rating on the shares. Compass confirmed that no further development is planned in anorexia nervosa following completion of the Phase 2 trial, the analyst tells investors in a research note. As such, the firm removed the indication from its model post the Q2 report. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on CMPS: Disclaimer & DisclosureReport an Issue Compass Pathways' Phase III Study on COMP360: A Potential Breakthrough in Treating Depression Compass Pathways Reports Strong Progress in Q2 2025 Compass Pathways' Earnings Call Highlights Success and Challenges Positive Buy Rating for COMPASS Pathways Driven by Strategic Progress and Financial Stability Compass Pathways' Phase III Study on COMP360: A Potential Game-Changer in Depression Treatment Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
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Compass Pathways Announces Second Quarter 2025 Financial Results and Business Highlights
LONDON & NEW YORK--(BUSINESS WIRE)--Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, today reported its financial results for the second quarter 2025 and provided an update on recent progress across its business. 'With the recent positive 6-week primary endpoint from our first COMP360 Phase 3 study and the prior positive Phase 2b study, we have now delivered clinically meaningful and highly statistically significant top-line results after a single dose of COMP360 in two late-stage studies in treatment-resistant depression, a considerable achievement in psychiatry,' said Kabir Nath, Chief Executive Officer of Compass Pathways. 'As we look forward to the 006 data, our second phase 3 study, we are excited to see the efficacy of two fixed doses with the 6-week primary endpoint measurement only three weeks after the second dose. Given our recent positive phase 3 data, we are highly focused on solidifying our commercialization efforts and exploring pathways to get this potential paradigm changing treatment option to patients as quickly as possible.' Business Highlights COMP360 psilocybin treatment in TRD (Treatment Resistant Depression) First study of an investigational, synthetic psilocybin, and the first classic psychedelic 1, to report Phase 3 efficacy data A single administration of COMP360 demonstrated a highly statistically significant and clinically meaningful reduction in symptom severity at six weeks, in the first of two phase 3 studies (COMP005) Based on its latest review of the data, DSMB safety review found no unexpected safety findings and no clinically meaningful imbalance in suicidal ideation in either phase 3 study (COMP005/COMP006) 2 COMP005 26-week data is expected once all participants in the COMP006 trial have completed part A of the COMP006 trial COMP006 26-week data is expected in the second half of 2026 COMP360 psilocybin treatment in PTSD (Post Traumatic Stress Disorder) Late-stage clinical trial design being finalized taking into consideration the results from the phase 2 open label 12-week safety and tolerability study (n=22) that was announced in May 2024, which showed COMP360 was well tolerated and demonstrated both rapid and durable improvement in symptoms from baseline observed following a single administration Board of Directors update Justin Gover, prior CEO of GW Pharmaceuticals, appointed to the Compass Pathways Board of Directors Dr. Linda McGoldrick will retire from her position on the Board at the end of October after more than 5 years of service Financial Highlights Net loss for the three months ended June 30, 2025, was $38.4 million, or $0.41 net loss per share: basic and diluted, compared with $38.1 million, or $0.56 loss per share basic and diluted, during the same period in 2024. The increase in net loss for the quarter was primarily driven by a $2.5 million non-cash loss on fair value adjustment related to our warrant liabilities partially offset by $2.1 million related to foreign exchange gains. As the fair value of the warrants fluctuates with our share price and other market inputs, this adjustment can result in significant variability in our reported net loss. Net loss for the six months ended June 30, 2025, was $56.3 million, or $0.62 net loss per share: basic and diluted, compared with $73.3 million, or $1.11 loss per share basic and diluted, during the same period in 2024. The decrease in net loss for the period was primarily driven by a $16.9 million non-cash gain on fair value adjustment related to our warrant liabilities. As the fair value of the warrants fluctuates with our share price and other market inputs, this adjustment can result in significant variability in our reported net loss. Non-cash share-based compensation for the three months ended June 30, 2025 was $3.6 million compared with $4.9 million for the same period in 2024. Non-cash share-based compensation for the six months ended June 30, 2025 was $7.5 million compared with $10.1 million for the same period in 2024. Research and development expenses were $30.3 million for the three months ended June 30, 2025, compared with $29.1 million during the same period in 2024. The increase was primarily attributable to development expenses associated with advancing our late-stage COMP360 phase 3 clinical trials partially offset by decreased personnel and non-cash share-based compensation expenses due to decreased staffing levels associated with the reorganization that took place in the fourth quarter of 2024. Research and development expenses were $61.2 million for the six months ended June 30, 2025, compared with $54.0 million during the same period in 2024. The increase was primarily attributable to development expenses associated with advancing our late-stage COMP360 phase 3 clinical trials partially offset by decreased personnel and non-cash share-based compensation expenses due to decreased staffing levels associated with the reorganization that took place in the fourth quarter of 2024. General and administrative expenses were $12.6 million for the three months ended June 30, 2025, compared with $14.3 million during the same period in 2024. The decrease was primarily attributable to decreased staffing levels associated with the reorganization that took place in the fourth quarter of 2024 as well as decreased facilities and other expenses as a result of lower insurance premiums and banking fees. General and administrative expenses were $31.3 million for the six months ended June 30, 2025, compared with $27.9 million during the same period in 2024. The increase was primarily attributable to issuance costs related to the 2025 Financing as well as expenses associated with consulting, accounting and legal advice, partially offset by decreased facilities and other expenses as a result of lower insurance premiums and banking fees as well as decreased personnel expenses due to decreased staffing levels associated with the reorganization that took place in the fourth quarter of 2024. Loss on change in fair value of warrants for the three months ended June 30, 2025, was $2.5 million compared with $0.0 million during the same period in 2024. Gain on change in fair value of warrants for the six months ended June 30, 2025, was $16.9 million compared with $0.0 million during the same period in 2024. Cash and cash equivalents were $221.9 million as of June 30, 2025, compared with $165.1 million as of December 31, 2024. Debt was $30.9 million as of June 30, 2025, compared with $30.2 million as of December 31, 2024. Financial Guidance Full year 2025 net cash used in operating activities is expected to be in the range of $120 million to $145 million. The cash position at June 30, 2025 is expected to be sufficient to fund operating expenses and capital expenditure requirements into 2027. Conference Call The management team will host a conference call at 8:00 am ET (1:00 pm UK) on July 31, 2025. A live webcast of the call will be available on the Compass Pathways website at this link: About Compass Pathways Compass Pathways plc (Nasdaq: CMPS) is a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health. We are motivated by the need to find better ways to help and empower people with serious mental health conditions who are not helped by existing treatments. We are pioneering a new paradigm for treating mental health conditions focused on rapid and durable responses through the development of our investigational COMP360 synthetic psilocybin treatment, potentially a first in class treatment. COMP360 has Breakthrough Therapy designation from the US Food and Drug Administration (FDA) and has received Innovative Licensing and Access Pathway (ILAP) designation in the UK for treatment-resistant depression (TRD). Compass is headquartered in London, UK, with offices in New York in the US. We envision a world where mental health means not just the absence of illness but the ability to thrive. Forward-looking statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. In some cases, forward-looking statements can be identified by terminology such as 'may', 'might', 'will', 'could', 'would', 'should', 'expect', 'intend', 'plan', 'objective', 'anticipate', 'believe', 'contemplate', 'estimate', 'predict', 'potential', 'continue' and 'ongoing,' or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements include express or implied statements relating to, among other things, statements regarding our expectations regarding our financial guidance; our business strategy and goals; our expectations and projections about the company's future cash needs and financial results; our plans and expectations regarding our ongoing Phase 3 trials in TRD, including our expectations regarding the time periods during which the 26-week results of the two ongoing Phase 3 trials will become available; the potential for the pivotal phase 3 program in TRD, any future trials in PTSD, or other trials to support regulatory filings and approvals; our expectations regarding the safety or efficacy of our investigational COMP360 psilocybin treatment, including as a treatment for treatment of TRD, PTSD, and anorexia nervosa; any implication that past results will be predictive of future results; our expectations regarding the enrollment of our Phase 3 COMP006 trial; our ability to obtain regulatory approval and adequate coverage and reimbursement; our ability to transition from a clinical-stage to a commercial-stage organization and effectively launch a commercial product, if regulatory approval is obtained; and our expectations regarding the benefits of our investigational COMP360 psilocybin treatment. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Compass's control and which could cause actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include, among others: uncertainties associated with risks related to clinical development which is a lengthy and expensive process with uncertain outcomes, and therefore our clinical trials may be delayed or terminated and may be more costly than expected; the full results and safety data from our first Phase 3 study in TRD, COMP005, or the results and safety data from our second Phase 3 study in TRD, COMP006, may not be consistent with the preliminary results to date; the results of early-stage clinical trials of our investigational COMP360 psilocybin treatment in PTSD may not be predictive of the results of our planned late-stage clinical trial in PTSD; our need for substantial additional funding to achieve our business goals and if we are unable to obtain this funding when needed and on acceptable terms, we could be forced to delay, limit or terminate our clinical trials; our efforts to obtain marketing approval from the applicable regulatory authorities in any jurisdiction for our investigational COMP360 psilocybin treatment may be unsuccessful; our efforts to commercialize and obtain coverage and reimbursement for our investigational COMP360 psilocybin treatment, if approved, may be unsuccessful; the risk that our strategic collaborations will not continue or will not be successful; and our ability to retain key personnel; and those risks and uncertainties described under the heading 'Risk Factors' in Compass's most recent annual report on Form 10-K or quarterly report on Form 10-Q, the prospectus supplement related to the proposed public offering we plan to file and in other reports we have filed with the U.S. Securities and Exchange Commission ('SEC'), which are available on the SEC's website at Except as required by law, Compass disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. These forward-looking statements are based on Compass's current expectations and speak only as of the date hereof. References 1. For the definition of classic psychedelic, see Vollenweider, F.X. and Smallridge, J.W., 2022. Classic psychedelic drugs: update on biological mechanisms. Pharmacopsychiatry, 55 (03), pp.121-138. 2. Statement on file from the DSMB Chair, dated June 19, 2025 COMPASS PATHWAYS PLC Condensed Consolidated Balance Sheets (unaudited) (in thousands, except share and per share amounts) (expressed in U.S. Dollars, unless otherwise stated) June 30, 2025 2024 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 221,881 $ 165,081 Restricted cash 379 389 Prepaid expenses and other current assets 54,143 35,821 Total current assets 276,403 201,291 NON-CURRENT ASSETS: Operating lease right-of-use assets 4,341 2,006 Deferred tax assets 4,290 3,774 Long-term prepaid expenses and other assets 8,502 6,595 Total assets $ 293,536 $ 213,666 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 10,925 $ 12,283 Accrued expenses and other liabilities 10,370 14,495 Debt, current portion 7,982 5,513 Operating lease liabilities - current 2,051 1,725 Total current liabilities 31,328 34,016 NON-CURRENT LIABILITIES Debt, non-current portion 22,951 24,652 Operating lease liabilities - non-current 2,304 303 Warrant liabilities 74,398 — Total liabilities $ 130,981 $ 58,971 SHAREHOLDERS' EQUITY: Ordinary shares, £0.008 par value; 93,586,348 and 68,552,215 shares authorized, issued and outstanding at June 30, 2025 and December 31, 2024, respectively 946 702 Additional paid-in capital 767,190 704,919 Accumulated other comprehensive loss (14,582 ) (16,194 ) Accumulated deficit (590,999 ) (534,732 ) Total shareholders' equity 162,555 154,695 Total liabilities and shareholders' equity $ 293,536 $ 213,666 Expand COMPASS PATHWAYS PLC Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) (in thousands, except share and per share amounts) (expressed in U.S. Dollars, unless otherwise stated) Three Months ended June 30, Six months ended June 30, 2025 2024 2025 2024 OPERATING EXPENSES: Research and development $ 30,325 $ 29,069 $ 61,205 $ 53,970 General and administrative 12,608 14,253 31,344 27,925 Total operating expenses 42,933 43,322 92,549 81,895 Loss from operations: (42,933 ) (43,322 ) (92,549 ) (81,895 ) OTHER INCOME (EXPENSE), NET: Fair value change of warrant liabilities (2,540 ) — 16,920 — Benefit from R&D tax credit 4,287 3,709 12,735 6,810 Interest income 1,898 2,408 4,284 4,668 Foreign exchange gains (losses) 2,349 225 4,482 (558 ) Interest expense (1,151 ) (1,112 ) (2,275 ) (2,210 ) Other (expense) income (176 ) 167 627 295 Total other income, net 4,667 5,397 36,773 9,005 Loss before income taxes (38,266 ) (37,925 ) (55,776 ) (72,890 ) Income tax expense (137 ) (176 ) (491 ) (398 ) Net loss $ (38,403 ) $ (38,101 ) $ (56,267 ) $ (73,288 ) Net loss per share attributable to ordinary shareholders: basic and diluted $ (0.41 ) $ (0.56 ) $ (0.62 ) $ (1.11 ) Weighted average ordinary shares outstanding: basic and diluted 93,341,594 68,371,139 91,278,385 66,296,658 Other comprehensive loss: Foreign exchange translation adjustment 1,729 81 1,612 45 Comprehensive loss $ (36,674 ) $ (38,020 ) $ (54,655 ) $ (73,243 ) Expand
