Trump Wants to Give Psychedelics Stocks a Boost. Can This Leading Company Deliver?

President Trump recently signed an executive order that fast-tracks the availability of psychedelic drugs for the treatment of “serious mental illnesses.” The order directs the Food and Drug Administration (FDA) to grant the Commissioner's National Priority Vouchers (CNPVs) for appropriate drugs and establish a pathway for eligible patients to gain access to investigational psychedelic drugs. 

This month, biotech firm Compass Pathways plc (CMPS) received the FDA's rolling submission and review request for its NDA, based on positive phase-3 data. It was also added to the CNPV program, which entitles the company to some benefits. 

The stock gained 42% intraday on April 20 after the executive order was signed. However, since then, the company has been having a patchy time on Wall Street. Moreover, some analysts believe that despite the public order, the move might have a limited impact on the regulatory progression of psychedelic treatment. 

Against this backdrop, we take a deeper look at the stock.

About Compass Pathways Stock

Compass Pathways is a biotechnology company focused on advancing mental health care through innovative treatments and service‑delivery models. Its core operations center on developing and evaluating COMP360, an investigational psilocybin‑based therapy delivered alongside structured psychological support, for people with severe depression who do not respond to existing treatments. 

The company also works to expand clinical‑trial access and real‑world data collection to support broader adoption of COMP360. COMPASS Pathways is headquartered in London, United Kingdom. It has a market capitalization of $1.15 billion. 

The market has shown an optimistic view on COMP360 psilocybin therapy, including the news of the late-stage trial data. Over the past 52 weeks, the stock has gained 121.39%, while it has been up 24.49% year-to-date (YTD). After CMPS reached its 52-week high of $10.21 on April 20, Wall Street has backed off, and the stock is down 17% from that level. 

Its forward-adjusted price-to-book ratio of 5.18 times is higher than the industry average of 3.06 times. 

COMPASS Pathways Continues Highlighting Progress for COMP360

CMPS is currently in its pre-revenue stage, as it explores the effectiveness of its late-stage COMP360 psychedelic drug candidate. The company has highlighted that the drug candidate continues to achieve highly statistically significant results and clinically meaningful results for the treatment of treatment-resistant depression (TRD). 

COMP360 reported two significant phase-3 results in February, leading to a 31.3% intraday spike in the stock on Feb. 17. The COMP005 and COMP006 studies met their primary endpoints. 

In the COMP006 study, conducted in 581 dosed participants, two doses of COMP360 25 mg were given to patients three weeks apart, resulting in a 3.8-point greater reduction (as measured by the mean difference) on the Montgomery-Åsberg Depression Rating Scale (MADRS) compared to two 1 mg doses. 

In the COMP005 study, with 258 dosed participants, a clinically meaningful reduction in MADRS scores at Week 6 with COMP360 25 mg was sustained through Week 26, demonstrating durable effects following just one or two doses.

Bottom line: the COMP360-to-commercialized TRD treatment path is well on its way, against a regulatory backdrop that has somewhat favored its progression. 

CMPS ended 2025 with $149.61 million in cash and cash equivalents. It had a debt of $50.4 million as of March 24, 2026. 

What Do Analysts Think About COMPASS Pathways Stock?

This month, B.Riley Securities analysts initiated coverage of CMPS with a bullish “Buy” rating and a $17 price target. Analyst Madison El-Saadi noted that the company is more than two years ahead of its peers in the psychedelics industry. 

BTIG analysts also reaffirmed their “Buy” rating on CMPS’ stock and a $14 price target. Analysts at the firm cited the company’s clinical trial quality. BTIG analysts also believe the company’s push to establish psychedelic medicine as a standard, safe, and effective therapy may gain momentum from a more receptive and open regulatory environment.

CMPS is gaining ample praise on Wall Street, with analysts awarding it a consensus “Strong Buy” rating. Of the 14 analysts rating the stock, a majority of 11 analysts have rated it a “Strong Buy,” one analyst suggests a “Moderate Buy,” while two analysts are playing it safe with a “Hold” rating. The consensus price target of $21.77 represents a 157% upside from current levels. Moreover, the Street-high price target of $70 indicates a 726.5% upside.