Canaccord lowered the firm’s price target on Cybin to $5 from $6 and keeps a Buy rating on the shares. The firm met with management and came continuing to believe the company remains significantly undervalued relative to the size of the indications it is targeting and with its recently closed offering, updated its model to reflect slight dilution.
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- Cybin price target lowered to $6.00 from $7.00 at Canaccord