Hoth Therapeutics price target lowered to $33 from $45 at EF Hutton

EF Hutton analyst Constantine Davides lowered the firm’s price target on Hoth Therapeutics to $33 from $45 and keeps a Buy rating on the shares after the FDA has accepted the new drug application for its HT-001 therapeutic for rash and skin disorders associated with epidermal growth factor receptor inhibitor therapy. The analyst is "encouraged" by Hoth’s recent execution and views the stock’s risk/reward profile as skewed positive. However, Davides moved from a risk-adjusted peak sales-based valuation methodology to a discounted cash flow methodology in order to better align with other biopharma names in his coverage universe.