Psyched: DEA Revisits Ban On Two Psychedelics, Farewell Russell Newcombe, Podcast Episode On Kanna & More
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 17 2024
0mins
Source: Benzinga
- DEA Revisiting Classification of Psychedelic Compounds: The DEA is reconsidering the classification of two psychedelic compounds, DOI and DOC, proposing to list them as Schedule I substances under the Controlled Substances Act.
- Passing of Russell Newcombe: April 4 marked the passing of Russell Newcombe, a significant figure in harm reduction advocacy and drug research globally.
- Benzinga Psychedelics Podcast Episode: Stephanie Wang, founder of KA! Empathogenics, discussed alternative mental health approaches using plant medicine like kanna on the Benzinga Psychedelics Podcast.
- Atai Life Sciences Results: Atai Life Sciences shared its Q4 and full-year 2023 results.
- Stock Market Updates: Various companies in the psychedelics sector such as Mind Medicine, COMPASS Pathways, and Atai Life Sciences saw fluctuations in their stock prices according to Benzinga Pro data.
Analyst Views on CMPS
Wall Street analysts forecast CMPS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CMPS is 17.67 USD with a low forecast of 8.00 USD and a high forecast of 40.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
9 Analyst Rating
8 Buy
1 Hold
0 Sell
Strong Buy
Current: 7.130
Low
8.00
Averages
17.67
High
40.00
Current: 7.130
Low
8.00
Averages
17.67
High
40.00
About CMPS
Compass Pathways plc is a United Kingdom-based biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health. The Company is engaged in treating mental health conditions focused on rapid and durable responses through the development of its investigational COMP360 psilocybin treatment. COMP360 is its psilocybin formulation that includes its pharmaceutical-grade polymorphic crystalline psilocybin, optimized for stability and purity. The Company’s initial focus is on treatment-resistant depression (TRD), comprising patients who are inadequately served by the current treatment paradigm. It commenced its Phase III program evaluating its COMP360 psilocybin treatment in TRD. In addition, the Company has ongoing Phase II trials in PTSD and anorexia nervosa. It also provides support to research institutions conducting investigator-initiated studies with COMP360 psilocybin in areas of serious unmet need.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
