In a report released today, Patrick Trucchio from H.C. Wainwright reiterated a Buy rating on Cybin, with a price target of $150.00.
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Patrick Trucchio has given his Buy rating due to a combination of factors that highlight Cybin’s promising advancements in their clinical programs. The company is making steady progress with its late-stage programs, particularly with CYB004 and CYB003. CYB004 has completed Phase 2a enrollment and is expected to release top-line data in the first quarter of 2026, which could significantly influence investor perception of their DMT programs. The trial’s focus on a short-duration, intramuscular protocol for generalized anxiety disorder is seen as a scalable and operationally advantageous approach compared to longer-duration psychedelics.
Additionally, CYB003 is advancing through the Phase 3 PARADIGM program for major depressive disorder under Breakthrough Therapy Designation, which allows for close FDA engagement. The program includes two pivotal trials, APPROACH and EMBRACE, with promising Phase 2 results showing significant reductions in depression scores and high remission rates. The ongoing preparations in commercial-scale manufacturing and clinic partnerships further support the potential for CYB003 to become a first-in-class treatment. These factors collectively position Cybin for a re-rating and justify the Buy recommendation.