Cybin wins new Buy from Guggenheim: potential to challenge J&J???s Spravato cited

Guggenheim has initiated its coverage of psychedelic drug developer Cybin (NYSE:CYBN) with a Buy rating and a $35 per share target, indicating that the company???s lead asset, CYB003, can one-day rival J&J???s (JNJ) FDA-approved depression therapy Spravato.

Analyst Eddie Hickman???s