Compass Pathways (CMPS, Financial) has successfully completed the dosing phase for all participants in Part A of its COMP005 phase 3 clinical trial, aimed at evaluating the efficacy of COMP360 for treatment-resistant depression (TRD). This trial is significant as it is the most extensive multi-center study focused on a synthesized psilocybin compound and marks a pivotal step in assessing COMP360's effectiveness.
Participants began the trial by undergoing necessary pre-dosing activities, which included discontinuing any anti-depressant medications if needed. Subsequently, each participant was administered a single dose of either 25 mg of COMP360 or a placebo. The company anticipates sharing the top-line results for the primary endpoint at the 6-week mark in late June.
COMP360 is a proprietary synthesized formulation of psilocybin, currently under investigation for its potential to address challenging mental health conditions. The completion of this dosing phase brings Compass Pathways closer to potentially providing new treatment avenues for individuals suffering from TRD.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 9 analysts, the average target price for Compass Pathways PLC (CMPS, Financial) is $16.67 with a high estimate of $45.00 and a low estimate of $11.00. The average target implies an upside of 393.10% from the current price of $3.38. More detailed estimate data can be found on the Compass Pathways PLC (CMPS) Forecast page.
Based on the consensus recommendation from 11 brokerage firms, Compass Pathways PLC's (CMPS, Financial) average brokerage recommendation is currently 1.7, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
