Down 25% in 2021, Is Compass Pathways Undervalued?
If you've ever been depressed, you know how difficult it can be to get a leg up on getting back to a sound state of mind. To help people suffering from depression and other mental illnesses, Compass Pathways (NASDAQ: CMPS) makes psychedelic therapies based on chemicals like psilocybin. While its interventions may never be as widely used as the first-line depression treatments of today like cognitive behavioral therapy (CBT), they just might offer a source of hope.
But hope isn't enough when it comes to making fruitful investments in biotech. Compass' shares are down by more than 25% from the start of the year, and there's no guarantee that they'll recover. Let's examine this company and its stock to see if the market is getting it wrong.
Image source: Getty Images.
Source Fool.com
