Cybin (NASDAQ:HELP) Now Covered by TD Cowen

Key Points

• TD Cowen initiated coverage of Cybin (NASDAQ:HELP) with a "buy" rating and an $8.00 price target, implying about a 53% upside from the prior close.
• Analyst sentiment is broadly positive—one analyst rates Cybin a Strong Buy and five rate it Buy, with an average target price of $48.60 and notable upside targets from HC Wainwright ($95) and Jefferies ($22).
• Shares opened at $5.22 (52-week range $4.29–$9.83) with a market cap of $269.5M; Cybin reported a quarterly EPS of ($0.72) vs. ($0.53) expected, and hedge funds like Millennium Management recently built large positions (over 1M shares).

Equities research analysts at TD Cowen began coverage on shares of Cybin (NASDAQ:HELP - Get Free Report) in a report released on Monday. The firm set a "buy" rating and a $8.00 price target on the stock. TD Cowen's price objective points to a potential upside of 53.26% from the company's previous close.

HELP has been the topic of several other research reports. HC Wainwright lifted their price target on shares of Cybin from $55.00 to $95.00 and gave the company a "buy" rating in a report on Monday, March 2nd. Jefferies Financial Group initiated coverage on shares of Cybin in a report on Monday, February 2nd. They issued a "buy" rating and a $22.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $48.60.

Cybin Price Performance

Shares of Cybin stock opened at $5.22 on Monday. Cybin has a 52-week low of $4.29 and a 52-week high of $9.83. The company has a market capitalization of $269.51 million, a PE ratio of -1.23 and a beta of 0.77. The business has a 50 day moving average price of $5.84.

Cybin (NASDAQ:HELP - Get Free Report) last issued its earnings results on Friday, February 13th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.19).

Hedge Funds Weigh In On Cybin

A number of hedge funds have recently bought and sold shares of the business. Millennium Management LLC raised its position in Cybin by 1,388.5% in the 4th quarter. Millennium Management LLC now owns 1,028,549 shares of the company's stock worth $8,414,000 after buying an additional 959,448 shares during the last quarter. Osaic Holdings Inc. raised its position in Cybin by 46.7% in the 2nd quarter. Osaic Holdings Inc. now owns 7,543 shares of the company's stock worth $63,000 after buying an additional 2,400 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Cybin by 66.8% in the 2nd quarter. Bank of America Corp DE now owns 29,443 shares of the company's stock worth $247,000 after buying an additional 11,790 shares during the last quarter. Hedge funds and other institutional investors own 17.94% of the company's stock.

About Cybin

Cybin Inc is a clinical-stage biopharmaceutical company focused on the development of psychedelic-based therapeutics for the treatment of mental health disorders. Headquartered in Toronto and listed on the NASDAQ under the symbol HELP, Cybin pursues research and development programs intended to harness the therapeutic potential of psychedelic compounds to address conditions with significant unmet need.

The company operates a drug discovery and development platform aimed at creating novel small-molecule psychedelic analogs and tailored formulations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.