VYNE Therapeutics price target lowered to $5.75 from $28 at H.C. Wainwright

H.C. Wainwright analyst Joseph Pantginis lowered the firm’s price target on VYNE Therapeutics to $5.75 from $28 and keeps a Buy rating on the shares. The analyst says the positive Phase 1b data demonstrates VYN201’s potential to treat nonsegmental vitiligo. Although still early in clinical development, these results underscore VYN201’s clear therapeutic benefit in vitiligo patients, the analyst tells investors in a research note. The firm cites the “significant dilution” from today’s equity raise for the target drop.