H.C. Wainwright analyst Joseph Pantginis maintained a Buy rating on VYNE Therapeutics (VYNE – Research Report) today and set a price target of $5.75.
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Joseph Pantginis has given his Buy rating due to a combination of factors including the promising developments in VYNE Therapeutics’ clinical trial progress. The initiation of the Phase 1b study for VYN202 in moderate-to-severe plaque psoriasis marks a significant step forward, with the trial aiming to assess safety as its primary endpoint and having multiple secondary endpoints that could demonstrate the therapy’s effectiveness.
VYNE’s recent positive results from the Phase 1a trial indicated that VYN202 is safe and effective in inhibiting inflammatory biomarkers, which are crucial in the pathology of plaque psoriasis. Additionally, VYNE’s strategic decision to focus initially on plaque psoriasis is seen as a wise choice, given the potential market and clinical value. With a financial runway until 2026, the company is well-positioned to further advance its programs and potentially expand into other inflammatory conditions, enhancing the stock’s value proposition.
Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VYNE in relation to earlier this year.