VYNE Therapeutics price target lowered to $4.50 from $5.75 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on VYNE Therapeutics (VYNE) to $4.50 from $5.75 and keeps a Neutral rating on the shares after the FDA placed a clinical hold on the company;s Phase 1b study evaluating VYN202 in moderate-to-severe plaque psoriasis. The firm finds it important that there have been no serious adverse events observed in subjects that have been enrolled in the Phase 1b study to date. It should also be underscored that this clinical hold only applies to the VYV202 program, the analyst tells investors in a research note. VYNE’s ongoing Phase 2b trial assessing repibresib gel in nonsegmental vitiligo continues without interruption, contends H.C. Wainwright.