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Investing.com - Piper Sandler has reiterated an Overweight rating and $12.00 price target on Compass Therapeutics (NASDAQ:CMPX) following the company’s second-quarter earnings report. The stock has shown remarkable strength, delivering a 156% return over the past year. According to InvestingPro data, analyst targets for CMPX range from $7 to $32, reflecting strong potential upside.
The research firm noted that Compass Therapeutics’ COMPANION-002 secondary endpoint analysis will likely be delayed until the first quarter of 2026, compared to the previous expectation of fourth-quarter 2025. The delay stems from a slower-than-anticipated rate of overall survival events in second-line biliary tract cancer patients.
Piper Sandler views this delay as potentially positive for tovecimig’s overall survival outcome, given that approximately 50% of paclitaxel control patients crossed over to the treatment arm.
The firm highlighted preliminary data from the CTX-8371 Phase 1 dose-escalation study, which demonstrated two confirmed partial responses in non-small cell lung cancer and triple-negative breast cancer patients. These responses reflected complete or near-complete reduction in target lesions at 0.3 and 3 mg/kg doses.
Compass Therapeutics plans to release the full CTX-8371 data in the fourth quarter of 2025, according to the research note.
In other recent news, Compass Therapeutics announced the pricing of a public offering expected to raise approximately $120 million. This offering includes 33,290,000 shares of common stock priced at $3.00 per share, alongside pre-funded warrants for additional shares. In financial updates, Compass Therapeutics reported a net loss of $19.9 million for the second quarter of 2025, with earnings per share at -$0.14, which was wider than the expected -$0.12. Despite this, Raymond (NSE:RYMD) James maintained its Outperform rating with a $9.00 price target, noting the company’s cash reserves are expected to last into 2027. Guggenheim also raised its price target for Compass Therapeutics from $10.00 to $12.00, citing promising clinical data. The biotech firm shared updates on its COMPANION-002 Phase 2/3 trial in biliary tract cancer, with final analysis now anticipated in early 2026. These developments reflect ongoing investor interest and analyst confidence in Compass Therapeutics’ future prospects.
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