Cybin Inc. (NASDAQ:HELP) Given Average Recommendation of “Buy” by Brokerages

Cybin Inc. (NASDAQ:HELP) has received a consensus recommendation of “Buy” from the five research firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have issued a report on the stock in the last year is $48.60.

HELP has been the subject of a number of research analyst reports. Wells Fargo & Company started coverage on Cybin in a report on Monday, July 27th. They issued an “overweight” rating and a $16.00 target price for the company. TD Cowen increased their price target on shares of Cybin from $8.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday.

Cybin Stock Up 5.9%

HELP stock opened at $12.47 on Friday. Cybin has a fifty-two week low of $3.76 and a fifty-two week high of $12.72. The stock has a market cap of $911.06 million, a PE ratio of -4.13 and a beta of 0.55. The firm’s 50-day simple moving average is $7.66 and its 200 day simple moving average is $6.20.

Cybin (NASDAQ:HELP) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.11). Equities analysts forecast that Cybin will post -3.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HELP. Osaic Holdings Inc. boosted its holdings in shares of 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 acquiring an additional 2,400 shares in the last quarter. Bank of America Corp DE raised its holdings in Cybin by 66.8% in the second quarter. Bank of America Corp DE now owns 29,443 shares of the company’s stock worth $247,000 after purchasing an additional 11,790 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Cybin by 1,388.5% during the 4th quarter. Millennium Management LLC now owns 1,028,549 shares of the company’s stock valued at $8,414,000 after purchasing an additional 959,448 shares in the last quarter. 17.94% of the stock is currently owned by institutional investors and hedge funds.

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.