All good points and in time stock prices will reflect true value -- just not at all times. When true value is not reflected, opportunity presents itself to either go long or short. When I take into consideration the market cap and compare it with other small bios, well, OU, all I see is an amazing opportunity.
The technicals concern me too. CYCC has been in a channel for about 6 months and it seems we are testing lower support these days. This needs to hold but, without a catalyst, I'm afraid TA traders might not have enough ammo to support current prices.
I remain bullish and believe your target of $3 is reasonable.