Compass Therapeutics: A Buy Rating on Promising Pipeline and Solid Financials

Andrew Berens, an analyst from Leerink Partners, maintained the Buy rating on Compass Therapeutics (CMPX – Research Report). The associated price target was lowered to $10.00.

Andrew Berens has given his Buy rating due to a combination of factors concerning Compass Therapeutics’ current pipeline updates and financial status. The imminent results from the Phase 2 study of CTX-009 in colorectal cancer and the outlined strategy post-results signal potential growth if the outcomes are favorable, with a necessary objective response rate of at least 10% to continue its monotherapy development. Additionally, the company’s progress with CTX-009 + paclitaxel in biliary tract cancer, which has been granted FDA fast track designation, further supports the positive outlook, with topline results expected in the first quarter of 2025.
Moreover, the ongoing enrollment for the Phase 1b study of CTX-471 in various cancers, with data expected in the first half of 2025, and the commencement of the Phase 1 trial of CTX-8371, offer additional prospects for future value creation. Compass Therapeutics’ financial runway, extending into late 2026, provides a stable foundation for continued development. Despite a slight adjustment in the projected launch dates and a lowered price target, the overall assessment remains optimistic, leading to a Buy recommendation for Compass Therapeutics’ stock.

According to TipRanks, Berens is a 2-star analyst with an average return of 0.1% and a 41.46% success rate. Berens covers the Healthcare sector, focusing on stocks such as AstraZeneca, Immunome, and Incyte.

In another report released on May 14, Stifel Nicolaus also maintained a Buy rating on the stock with a $10.00 price target.

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Compass Therapeutics (CMPX) Company Description:

Compass Therapeutics Inc is a clinical-stage biopharmaceutical company. The firm is developing proprietary antibody therapeutics intended to engage the immune system to treat both solid tumors and hematological malignancies. Its pipeline product candidates are CTX-471/ CD137 agonist and CTX-8371.