Cybin Inc. (NASDAQ:HELP) Receives Consensus Rating of “Buy” from Analysts

Shares of Cybin Inc. (NASDAQ:HELP) have been assigned a consensus recommendation of “Buy” from the five research firms that are covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have covered the stock in the last year is $58.75.

HELP has been the topic of several analyst reports. TD Cowen initiated coverage on shares of Cybin in a research note on Monday, April 13th. They set a “buy” rating on the stock. HC Wainwright lifted their price target on shares of Cybin from $55.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Finally, Jefferies Financial Group initiated coverage on shares of Cybin in a research note on Monday, February 2nd. They set a “buy” rating and a $22.00 price target on the stock.

Cybin Stock Down 2.3%

Shares of HELP stock opened at $5.06 on Friday. Cybin has a 12-month low of $4.29 and a 12-month high of $9.83. The stock has a 50 day moving average of $5.22. The stock has a market capitalization of $261.25 million, a PE ratio of -1.20 and a beta of 0.80.

Cybin (NASDAQ:HELP) last issued its quarterly earnings results on Friday, February 13th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.19). On average, analysts predict that Cybin will post -4.08 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Osaic Holdings Inc. increased its holdings in Cybin by 46.7% in the 2nd quarter. Osaic Holdings Inc. now owns 7,543 shares of the company’s stock valued at $63,000 after acquiring an additional 2,400 shares during the last quarter. Bank of America Corp DE increased its holdings in Cybin by 66.8% in the 2nd quarter. Bank of America Corp DE now owns 29,443 shares of the company’s stock valued at $247,000 after acquiring an additional 11,790 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in Cybin by 1,388.5% in the 4th quarter. Millennium Management LLC now owns 1,028,549 shares of the company’s stock valued at $8,414,000 after acquiring an additional 959,448 shares during the last quarter. Hedge funds and other institutional investors own 17.94% of the company’s stock.

Cybin Company Profile

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.