Compass Pathways price target raised to $70 at HC Wainwright, with buy rating and context on psilocybin TRD program

HC Wainwright raised its Compass Pathways (NASDAQ: CMPS) price target from $40 to $70 while maintaining a Buy rating, positioning the update as an unusually bullish call versus other analysts. MarketBeat frames the move within the wider analyst consensus, noting a much lower average target and that CMPS was trading around $6.90 at the time, creating a large gap between Wall Street targets and the market price. Compass Pathways is described as a clinical-stage biotech developing COMP360, a psilocybin therapy candidate for treatment-resistant depression, including references to a Phase 2b program and Breakthrough Therapy designation.