Cybin price target lowered to $4 from $5 at Canaccord

Canaccord lowered the firm’s price target on Cybin to $4 from $5 and keeps a Buy rating on the shares. The firm said they believe shares remain undervalued relative to the sizes of the indications it is targeting. In the near term, given the early, but promising data on CYB003 so far, they remain cautiously optimistic heading into the 3-month efficacy data that could come any day now.