- Psychedelic medicine industry faces setbacks with key clinical trial results.
- Significant stock movement observed in major players like Compass Pathways, atai Life Sciences, and MindMed.
- Despite recent dips, analysts project substantial upside potential for Compass Pathways.
Psychedelic medicine stocks saw a sharp decline after Compass Pathways (CMPS, Financial) announced disappointing outcomes from its advanced-stage clinical trials for a psilocybin-based depression treatment. This news sent Compass Pathways’ shares plummeting by nearly 15%, a trend that negatively impacted other industry stakeholders, including atai Life Sciences (ATAI) and MindMed (MNMD), causing their stocks to tumble as well.
Wall Street Analysts Forecast
According to insights from 11 analysts, the average one-year price target for Compass Pathways PLC (CMPS, Financial) is projected at $16.82. This projection includes a high estimate of $45.00 and a low estimate of $11.00, which collectively suggest a promising potential upside of 606.97% from the current trading price of $2.38. For an in-depth view of these projections, visit the Compass Pathways PLC (CMPS) Forecast page.
The consensus from 11 brokerage firms places Compass Pathways PLC's (CMPS, Financial) average brokerage recommendation at 1.7, signifying an "Outperform" status. This rating operates on a scale from 1 to 5, where 1 represents Strong Buy, and 5 indicates Sell, reflecting analysts' optimism about the company's long-term potential despite recent setbacks.
