Cybin Inc (CYBN) Stock Forecast 2024: Analysts – Spaxton School

Article Coverage: CYBN Stock Performance, Latest CYBN News, Aggregated Forecasts, CYBN Latest Production Update, Reasons to Buy or Sell CYBN Stock, CYBN Investor Day Analysis, FAQs and Other detailed analysis.

Cybin Inc. (CYBN) is a Canadian biopharmaceutical company focused on the development of psychedelic-based therapeutics for mental health disorders. The company was founded in 2019 and is headquartered in Toronto, Ontario. CYBN was registered on the Neo Exchange on September 17, 2020, and on the NYSE American on November 19, 2020.

CYBN Stock Performance in the Last 12 Months

Last 5 Days	+13.7%
Last 1 Month	+3.6%
Last 6 Months	+27.0%
Last 12 Months	-22.8%

Cybin Price Prediction: Cybin Inc has indicating a positive momentum from the last few months. From buyers point of view Cybin was a good stock in the long-term.

Cybin stock was currently trading at $0.39 and possible to trade more in the future. It is possible that Cybin is going to trade between $0.35 to $0.50 for the next few months.

Cybin Inc (CYBN) Stock Forecast 2024: Latest News

• Cybin Inc. announces its position as the holder of the world’s largest psychedelic intellectual property (IP) portfolio, boasting over 50 granted patents and 170 pending applications. The company aims to lead a revolution in mental healthcare with its extensive IP assets.
• Cybin Inc., a clinical-stage biopharmaceutical company, reports positive Phase 2 topline results for its proprietary CYB003 and dDMT molecules, marking significant progress in the development of innovative psychedelic treatment options for mental health disorders. With plans to initiate Phase 3 trials for CYB003 and Phase 2a studies for CYB004, and bolstered by FDA clearance, Cybin aims to revolutionize mental healthcare.

UTC: Feb 23rd, 2024 12:04 AM

• Cybin Inc (CYBN) Price Prediction in the next 24 hours is between $0.390 and $0.401
• Cybin Inc (CYBN) Price Prediction this week is between $0.377 and $0.408

Cybin Inc (CYBN) Stock Forecast 2024: Analysts

CYBN Target Price	$4.25
HC Wainwright & Co.	$5
Canaccord Genuity	$5
Oppenheimer	$4
Cantor Fitzgerald	$3

Cybin Stock Forecast 2024, 2025-2030, Aggregated

• Cybin Inc (CYBN) Price Prediction 2024 is $0.813
• Cybin Inc (CYBN) Price Prediction 2025 is $1.06
• Cybin Inc (CYBN) Price Prediction 2026 is $1.31
• Cybin Inc (CYBN) Price Prediction 2027 is $1.51
• Cybin Inc (CYBN) Price Prediction 2028 is $1.61
• Cybin Inc (CYBN) Price Prediction 2029 is $1.71
• Cybin Inc (CYBN) Price Prediction 2030 is $1.81

Cybin Inc (CYBN) Stock Forecast 2024: Will CYBN reach $1 in 2024?

Current Analyst Estimates:

• Average 12-month price target: $4.00 (according to 4 stock analysts)
• Lowest target: $3.00
• Highest target: $5.00

Cybin, positioned as a clinical-stage biopharmaceutical firm, is pioneering psychedelic-based therapies for depression, anxiety, and addiction. The surging interest in psychedelic therapies presents a promising opportunity for the company’s expansion. Positive outcomes emerging from ongoing clinical trials could act as a substantial catalyst for elevating the stock price.

However, the psychedelic therapy market is in the early stages, with regulations undergoing continuous evolution. Cybin’s therapies are still in the early phases of clinical development, and approval timelines may be extended.

Therefore it is unlikely that CYBN stock will reach $1 in 2024. First, the company is still in the early stages of development and is not yet generating significant revenue. Second, the psychedelic drug industry is still in its early stages, and there is no guarantee that Cybin’s drugs will be successful in clinical trials or approved by regulators.

However, some factors could support CYBN stock in the long term. First, the company has a strong pipeline of psychedelic-based drugs, including drugs for depression, anxiety, and addiction. Second, the psychedelic drug industry is expected to grow rapidly in the coming years, as more and more research is done on the potential benefits of psychedelic drugs.

Overall, despite the current estimates and price targets averaging at $4.00, reaching $1 in 2024 appears unlikely based on the existing metrics.

CYBN Quarterly Financial Results

Third Quarter, 2023

Cybin Inc. a biopharmaceutical company focused on developing psychedelic therapeutics, reported its latest financial results for the third quarter ended September 30, 2023, on November 14, 2023.

Financial Highlights:

• Net loss: C$11.9 million, compared to C$10.0 million in the same period last year.
• Cash: C$18.1 million as of September 30, 2023.
• Access to capital: Over C$138 million, including recently completed offering of units, current cash position, current at-the-market equity program, and assuming full exercise of warrants.
• Cash-based operating expenses: C$12.5 million, including C$2.1 million in one-time costs.

Key Business Highlights:

• Completed acquisition of Small Pharma Inc., creating a leading international clinical-stage company in psychedelic therapeutics.
• Announced unprecedented positive Phase 2 interim data for CYB003 in Major Depressive Disorder, meeting the primary efficacy endpoint with rapid and significant improvements in depression symptoms after a single dose.
• Released positive topline data from Phase 2 study of CYB003 in Major Depressive Disorder, with 79% of patients in remission after two 12mg doses.
• Closed offering of units led by one of the company’s largest institutional shareholders, raising gross proceeds of approximately US$64 million.
• Presented data at the Neuroscience 2023 Annual Meeting.
• Received a grant of a European patent protecting its proprietary deuterated programs.
• Received grants of two new United States patents protecting its deuterated DMT program.

Overall, Cybin’s latest quarter results were positive, with the company making significant progress on its clinical programs and raising additional capital.

CYBN Stock Forecast 2024: How High Will CYBN Go in 2024?

It is difficult to predict how high CYBN stock will go in 2024. The stock is very volatile, and its price can be affected by a number of factors, including news about the company’s clinical trials, regulatory approvals, and the overall state of the stock market.

Analysts have a consensus price target of $0.60 for CYBN stock in 2024, but the current share price of $0.63 has reached the consensus price target of $0.60. However, some analysts believe that the stock could go even higher, with some setting price targets as high as $5.00.

Here are some factors that could affect CYBN stock in 2024:

• Results from the company’s clinical trials
• Regulatory approvals for the company’s drugs
• Growth of the psychedelic drug industry
• Investor interest in psychedelic drug companies

Overall, it is impossible to say for sure how high CYBN stock will go in 2024. Investors should carefully consider the risks and rewards before investing in CYBN stock. The stock is a high-risk, high-reward investment. Investors should only invest money that they can afford to lose.

Cybin Inc (CYBN) Stock Forecast 2024: Is CYBN a good stock to buy?

Here are some reasons why some investors might choose to buy CYBN stock:

• Strong pipeline of psychedelic drugs: Cybin has a strong pipeline of psychedelic-based drugs, including drugs for depression, anxiety, and addiction. The company’s lead drug, CYB003, is currently in Phase 2a clinical trials for depression.
• Growth of the psychedelic drug industry: The psychedelic drug industry is expected to grow rapidly in the coming years, as more and more research is done on the potential benefits of psychedelic drugs.
• Low valuation: Cybin stock is currently trading at a relatively low valuation, which means that investors could potentially buy the stock at a good price.

CYBN Stock Forecast 2024: Reasons Not to Buy CYBN Stock

Here are some reasons why some investors might choose not to buy CYBN stock:

• Early-stage company: Cybin is a very early-stage company that is still in the process of developing its pipeline of psychedelic drugs. The company has not yet generated any revenue from the sale of its drugs, and it is likely to be several years before it does so.
• High-risk investment: Investing in early-stage companies is inherently risky. There is no guarantee that Cybin’s drugs will be successful in clinical trials or approved by regulators. Even if the company’s drugs are approved, there is no guarantee that they will be commercially successful.
• Volatile stock: CYBN stock is a very volatile stock. This means that its price can fluctuate wildly over short periods of time. This volatility can make it difficult to time your entry and exit points from the stock.
• Competition: Cybin is facing increasing competition from other companies that are developing psychedelic drugs. This competition could make it difficult for Cybin to succeed in the market.

It is important to note that all investments carry risk, and CYBN stock is no exception. The company is still in the early stages of development and is not yet generating significant revenue.

Note:  Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.