Compass Therapeutics stock price target maintained at $6 by Stifel

Stifel has maintained a Buy rating on Compass Therapeutics (NASDAQ:CMPX) with a $6.00 price target, reflecting a strong optimism towards the company's prospects. The stock is currently trading at $1.31, marking an 81% drop from its 52-week high of $6.88 and a 65% decrease over the last six months. Despite this, Stifel believes regulatory feedback on tovecimig's full approval prospects remains positive, citing the drug's potential to reduce the risk of disease progression by over 50%.

The company plans to submit a first-half 2027 biologics license application, regardless of the FDA's feedback, which is seen as specific to full approval. The company's management intends to re-engage with the FDA on accelerated approval prospects. The article highlights the company's strong current ratio of 11.22, despite being rapidly burning through cash.

InvestingPro notes that the current valuation does not adequately reflect the potential fourth-quarter 2026 catalysts from the company's earlier-stage pipeline, suggesting the stock is undervalued at its current price.