Overview
Craig-Hallum has launched coverage of Compass Therapeutics (NASDAQ: CMPX) with a Buy rating and has set a price target of $15.00. At the time of the initiation, Compass shares were trading at $6.55 and the company carried a market capitalization of $1.13 billion. The stock has been trading close to its 52-week high of $6.88.
Why Craig-Hallum is positive
The research firm expressed confidence in Compass Therapeutics’ focus on developing bispecific antibodies, or BsAbs, aimed at angiogenesis and immuno-oncology pathways. Craig-Hallum described that approach as central to what it views as next-generation cancer therapies. The firm specifically highlighted the company’s lead asset, tovecimig (PD-1xVEGF-A), as a potential near-term commercial opportunity in second-line biliary tract cancer - an indication cited in the firm’s coverage note.
The analyst also pointed to Compass’s earlier-stage candidates, CTX-8371 and CTX-10726, and described the company’s BsAb pipeline as deep with broad potential across cancer treatment, framing several programs as having blockbuster opportunity potential.
Analyst consensus and market context
Data referenced by the coverage note indicated a strongly bullish analyst consensus, with price targets among analysts ranging from $8 to $30. Craig-Hallum noted that Compass shares have rallied 84% over the past 12 months and signaled additional upside over the next 12 to 18 months as the company moves toward a commercial-stage posture should tovecimig progress to launch and early-stage assets achieve clinical validation.
Recent analyst and corporate updates
- Canaccord Genuity raised its price target to $13.00 from $10.00 while maintaining a Buy rating, citing expectations for positive Phase 2/3 data for tovecimig plus paclitaxel expected by the end of the first quarter of 2026.
- Citizens reiterated a Market Outperform rating with a $10.00 price target following a corporate update that highlighted clinical-stage progress and shared results from an ASCO GI abstract on tovecimig monotherapy in metastatic colorectal cancer.
- Stifel maintained its Buy rating and $12.00 target, noting alignment between the company’s strategic objectives for fiscal 2026 and expectations, particularly with respect to the COMPANION-002 trial data disclosure planned for early 2026.
- Raymond James held an Outperform rating with a $9.00 price target after the company’s corporate update on tovecimig and other pipeline developments.
What this means for investors
Craig-Hallum’s initiation adds another Buy-rated perspective to a group of analysts who have recently revisited Compass’s outlook. The firm’s view centers on the potential commercialization pathway for tovecimig and on validation of early-stage BsAb programs. Market participants will likely pay close attention to upcoming clinical readouts and corporate disclosures referenced by other analysts when assessing near-term execution and value creation.
Note: The coverage initiation and the analyst commentary referenced above reflect positions and price targets as reported by the research firms cited.