These are top 10 stocks traded on the Robinhood UK platform in July
Investing.com - H.C. Wainwright downgraded VYNE Therapeutics (NASDAQ:VYNE) from Buy to Neutral on Wednesday, removing its previous $4.50 price target. The stock, currently trading at $0.37, has declined 57% year-to-date and is hovering near its 52-week low. According to InvestingPro data, the company’s market capitalization has contracted to just $6.07 million.
The downgrade follows Phase 2b trial data for repibresib (formerly VYN201) in nonsegmental vitiligo that apparently failed to meet expectations, though specific trial results were not detailed in the firm’s statement.
H.C. Wainwright indicated it might reassess its investment case based on future progress from either repibresib or another compound in the company’s pipeline, VYN202.
The research firm noted several factors that could impact VYNE’s outlook, including failed or inconclusive clinical trials, funding challenges, or potentially dilutive capital raises.
VYNE Therapeutics is a pharmaceutical company focused on developing treatments for inflammatory skin conditions, with repibresib being one of its lead drug candidates.
In other recent news, VYNE Therapeutics announced that its Phase 2b trial for repibresib gel in nonsegmental vitiligo did not meet its primary and key secondary endpoints. The trial failed to achieve the primary endpoint of F-VASI50 and also missed the secondary endpoint of F-VASI75. Meanwhile, the U.S. Food and Drug Administration has partially lifted a clinical hold on VYNE’s VYN202 program for moderate-to-severe plaque psoriasis. This allows the company to resume its Phase 1b trial in female patients at specific dose levels, following earlier concerns about testicular toxicity in dogs. H.C. Wainwright has reiterated a Buy rating on VYNE Therapeutics, maintaining a price target of $4.50, despite the clinical hold update. Additionally, BTIG has reiterated its Buy rating with a $5.00 price target, anticipating that upcoming data could position repibresib as a preferred treatment option for vitiligo. These developments reflect ongoing adjustments and expectations within VYNE’s research and development efforts.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.