Citizens JMP has officially initiated coverage of shares for Compass Therapeutics (NASDAQ:CMPX), marking a significant development for the clinical-stage biopharmaceutical company. In a research note published on November 5, 2023, the firm assigned a market outperform rating along with a price target of $10.00. This follows a growing interest in Compass Therapeutics from various analysts, indicating a mixed outlook for the stock.
Several other firms have recently shared their perspectives on Compass Therapeutics. D. Boral Capital reaffirmed a “buy” rating and set a more ambitious target price of $30.00 for the company’s shares. Likewise, JMP Securities reported a $10.00 price target, while Cantor Fitzgerald gave the stock an “overweight” rating. Additionally, Lifesci Capital initiated coverage with an “outperform” rating and also targeted $10.00. In contrast, Weiss Ratings issued a “sell (d-)” rating, illustrating the divided opinions among analysts.
In total, one analyst rates the stock as a Strong Buy, thirteen have given it a Buy rating, and one has issued a Sell rating. According to MarketBeat, the average rating currently stands at “Moderate Buy,” with a consensus price target of $12.23.
Latest Earnings and Institutional Trading Activity
Compass Therapeutics recently reported its quarterly earnings on November 5, 2023. The company announced earnings per share of ($0.08), surpassing analysts’ expectations of ($0.14) by $0.06. Looking ahead, analysts anticipate that Compass Therapeutics will post an earnings per share of ($0.36) for the current fiscal year.
In terms of institutional trading activity, several hedge funds have modified their holdings in Compass Therapeutics. Notably, Russell Investments Group Ltd. increased its stake by an impressive 3,933.7% in the third quarter, now owning 7,785 shares valued at approximately $27,000. Other institutional investors, including Creative Planning and Strs Ohio, have also acquired new stakes in the company, indicating a growing confidence among institutional backers. Currently, institutional investors and hedge funds hold 68.43% of Compass Therapeutics’ stock.
About Compass Therapeutics
Compass Therapeutics, Inc. is a biopharmaceutical company based in the United States, focusing on developing antibody-based therapies for a range of human diseases. The company’s lead product candidates include CTX-009, a bispecific antibody targeting Delta-like ligand 4 and vascular endothelial growth factor A pathways, both critical for tumor vascularization; and CTX-471, an IgG4 monoclonal antibody that acts as an agonist of CD137, a vital co-stimulatory receptor on immune cells.
As the company navigates this mixed landscape of analyst ratings and institutional investment, it remains to be seen how these factors will impact its stock performance and future developments.
