Cybin Inc. receives 'Buy' ratings and significant price target hike

Cybin Inc. (now Helus Pharma) has received an average 'Buy' rating from five research analysts, with TD Cowen significantly raising its price target from $8.00 to $62.00. This adjustment represents a potential upside of approximately 426% from previous closing prices.

Analyst Ritu Baral of TD Cowen attributed the higher valuation to three key factors: clearer timing for late-stage data on the company’s lead drug, the appointment of a seasoned new chief executive, and positive trends within the psychedelic neuropsychiatry sector. The company develops synthetic compounds to activate serotonin pathways for mental health improvement.

Cybin’s lead candidate, HLP003, is an oral therapy currently in a late-stage study for adults with major depressive disorder. Topline results for this study are expected in mid-November 2026. Additionally, the company is progressing with HLP004, which targets generalized anxiety disorder.

Institutional activity has also seen notable shifts, with Millennium Management LLC significantly increasing its stake in the company during the fourth quarter.