Hoth Therapeutics assumed with a Buy at EF Hutton

EF Hutton assumed coverage of Hoth Therapeutics with a Buy rating and $5 price target. The firm’s focus at Hoth is on HT-001 Topical Gel for EGFR-positive rash, which is now in a Phase 2a clinical study. The drug is developed along a 505(b)(2) pathway, notes the firm, which agrees with the company’s timeline and assumes HT-001 could be commercialized by 2029.