Analyst Stacy Ku of TD Cowen maintained a Buy rating on VYNE Therapeutics, with a price target of $2.00.
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Stacy Ku’s rating is based on a combination of factors that highlight both the challenges and opportunities for VYNE Therapeutics. Despite the discontinuation of the topical BETi repibresib due to disappointing Phase IIb results, the company’s focus has shifted to VYN202, an oral BD-2 selective BET inhibitor, which represents a significant growth opportunity. The management’s efforts to lift the partial clinical hold on VYN202 and the promising anti-inflammatory efficacy signals observed in the Phase Ib psoriasis trial are key factors supporting the Buy rating.
Furthermore, the encouraging safety and tolerability profile of VYN202, with no adverse events related to BET inhibition, strengthens the potential for its development in other serious and rare autoimmune diseases. Although there are high risks associated with the company’s current situation, the valuation and potential of VYN202 underpin the Buy recommendation. The updated price target of $2 reflects these considerations, acknowledging both the setbacks and the promising future prospects of VYN202.
In another report released on July 18, LifeSci Capital also maintained a Buy rating on the stock with a $6.00 price target.