Analyst Patrick Trucchio of H.C. Wainwright reiterated a Buy rating on Cybin, retaining the 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 strong position in the psychedelic neuropsychiatry sector. The company is advancing its two lead programs, CYB003 and CYB004, with CYB003 in Phase 3 development for major depressive disorder and CYB004 in Phase 2 for generalized anxiety disorder. The recent financial boost from a US$500 million convertible debenture facility, with US$50 million already funded, provides Cybin with capital flexibility and extends its operational runway beyond 2026.
CYB003’s impressive 71% remission rate at 12 months and its FDA Breakthrough Therapy Designation indicate significant registration potential. Additionally, strategic partnerships for manufacturing and commercialization reduce risks. Upcoming catalysts, such as the initiation of the CYB003 Phase 3 EMBRACE and EXTEND trials and the CYB004 Phase 2 readout, are expected to maintain investor interest as Cybin progresses towards potential market entry.
According to TipRanks, Trucchio is a 2-star analyst with an average return of 0.8% and a 36.83% success rate. Trucchio covers the Healthcare sector, focusing on stocks such as uniQure, Sangamo Biosciences, and Faron Pharmaceuticals Oy.
In another report released yesterday, Alliance Global Partners also reiterated a Buy rating on the stock with a $25.00 price target.