Massachusetts-Based Biotech Soars On Analyst Coverage And Bullish Price Targer

Another healthcare stock came across our desk during the mid-week session after it was announced that Piper Sandler initiated coverage on the biotech, with an overweight rating and a price target of $12.00/share.

Seeing that Compass Therapeutics Inc. (Nasdaq:CMPX) closed at just $3.17 yesterday, it’s no wonder that traders rushed to scoop up some shares of their own. The buying pressure pushed this stock up to $3.4588/share (+9.11%) at the early session high. 

Compass Therapeutics Inc is a clinical-stage biopharmaceutical company that develops proprietary antibody therapeutics intended to engage the immune system to treat both solid tumors and hematological malignancies. It is engaged in drug discovery by leveraging its proprietary antibody discovery engine to broadly drug the immune system and identify optimal combinations empirically. Through StitchMabs and common light chain platforms, these combinatorial insights can be rapidly translated into tailored bispecifics with monoclonal-like manufacturability. The company has drugged over 40 immune targets and generated a diverse pipeline of monoclonal and multispecific therapeutic candidates with potential to transform care for patients with cancer or autoimmune diseases.

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