HC Wainwright Reiterates “Buy” Rating for VYNE Therapeutics (NASDAQ:VYNE)

VYNE Therapeutics (NASDAQ:VYNE)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a note issued to investors on Friday, Benzinga reports. They presently have a $5.75 target price on the stock. HC Wainwright’s target price indicates a potential upside of 150.00% from the company’s previous close.

VYNE Therapeutics Price Performance

Shares of VYNE opened at $2.30 on Friday. The stock has a market capitalization of $33.42 million, a price-to-earnings ratio of -0.42 and a beta of 1.31. The business’s 50 day simple moving average is $2.56 and its 200-day simple moving average is $2.44. VYNE Therapeutics has a 1 year low of $1.67 and a 1 year high of $6.79.

VYNE Therapeutics (NASDAQ:VYNE) last announced its earnings results on Thursday, May 9th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.09. VYNE Therapeutics had a negative return on equity of 56.75% and a negative net margin of 6,874.47%. The firm had revenue of $0.10 million during the quarter, compared to analysts’ expectations of $0.10 million. On average, sell-side analysts expect that VYNE Therapeutics will post -0.77 earnings per share for the current year.

Institutional Investors Weigh In On VYNE Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Eventide Asset Management LLC purchased a new position in VYNE Therapeutics during the 4th quarter valued at about $3,249,000. Parkman Healthcare Partners LLC purchased a new position in VYNE Therapeutics during the fourth quarter valued at approximately $1,623,000. Finally, Virtu Financial LLC purchased a new position in VYNE Therapeutics during the first quarter valued at approximately $50,000. 83.78% of the stock is owned by institutional investors.

About VYNE Therapeutics

VYNE Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing proprietary and therapeutics for the treatment of immuno-inflammatory conditions. The company's lead product is VYN201, a locally administered pan- bromodomain and extra-terminal (BET) inhibitor soft drug to address diseases involving multiple, diverse inflammatory cell signaling pathways with low systemic exposure.