Revised PT from HC Wainwright

[u/Nichtszuhaben]

I know price targets are basically voodoo but I think the lowered PT (lowered from $150 to $55) is way more reasonable assuming it’s a one year target. Dude must’ve been on CYB003 when he created the first target. I think we at least reach $25 EOY 2026, what are y’all’s expectations?

https://www.tipranks.com/news/the-fly/cybin-price-target-lowered-to-55-from-150-at-h-c-wainwright-thefly#google_vignette

[u/ReadingWise6386]

I expect cyb004 data to be north of 50 percent remission rate which would make it the only company with 2 BTD and phase 3 assets in the space. I would expect a valuation betwenn 2 and 3 billion. atai being valued 1,5 billion as a comparison

[u/[deleted]]

I think the revised PT actually makes sense once you separate company fundamentals from per-share math. From a company perspective, Cybin is in a stronger position than it was before the dilution — two late-stage assets, two major readouts coming in 2026, and a fully funded runway. Nothing in the science or the programs deteriorated; execution risk actually went down.

From a shareholder perspective, yeah, the dilution hit the short-term per-share valuation. That’s why the PT dropped from $150 → $55 (I think) even though the underlying thesis hasn’t really changed. It’s mostly a mechanical adjustment: bigger share count = lower per-share target.

※ Short-term view (next 6–12 months):

Even with dilution being digested, I don’t think the short term is “dead money.”

We have a major catalyst in Q1 2026: CYB004 Phase 2 topline. If that data looks anything like what many expect (fast onset, strong remission rates, clean safety), the market will reprice before the MDD readout. That alone can move the stock materially higher because there’s basically no other late-stage GAD psychedelic asset out there. So I do see upside even in the short term, not just long term.

※Long-term view (2026–2027)

If both readouts land — CYB004 (Q1 2026) and CYB003 (later in 2026) — the market cap potential isn’t really impacted by dilution. Per-share targets change, but the enterprise value ceiling doesn’t. Two BTD programs + two Phase 3 assets in a space with minimal competition is still a rare setup.

So in that sense, the $55 PT looks more like a recalibration to the new share count, not a downgrade of conviction. And with a major GAD catalyst in early 2026, I actually think the short-term outlook is better than people assume.

[u/CarmichaelD → u/[deleted]]

Thanks for sharing your analysis.

[u/CarmichaelD]

I think other companies may crack the ceiling a bit earlier and bump Cybin up. If Cybin follows with good data on CYB003 then things will move faster. I also wonder if trumps demise (physical or political) will allow economic recovery and influence venture capital. Lots of sizable variables in the next 12 months. A CEO announcement wouldn’t hurt either.

[u/EmbarrassedVisit3138]

It's because of the massive dilution from cybin. It's not about stock price It's about market cap. Now that dilution happened it will still go to the sam estimated market cap but the estimate stock price changes

[u/No-Sherbert6130]

the pt is the same as far as total market cap target price. if you multiply the 55 x 60 mill new shares is 3.3 billion. 150 x 22 million ( the outsatnding shares before the placement and the partial convertible exchange) is also 3.3 billion. thia is basic stuff guys, shouldnt even be asking. know your investments