Cantor Fitzgerald Reiterates VYNE Therapeutics (VYNE) at Overweight with $10 PT, Sees Latest FMX114 Data Underscoring "Positive Investment Thesis"

Cantor Fitzgerald analyst Louise Chen reiterated an Overweight rating and $10.00 price target on VYNE Therapeutics (NASDAQ: VYNE), following the company's announcement of positive Phase 1b efficacy data for FMX114.

The analyst commnets: "Today (4/7), VYNE announced positive Phase 1b efficacy data for FMX114 from its Phase 1b/2a trial for the treatment of mild-to-moderate atopic dermatitis (AD). Notably: 1) At week 2, FMX114 demonstrated a statistically significant reduction in both absolute and percent change in ADSI (Atopic Dermatitis Severity Index) score compared to vehicle, And, 2) Phase 2a safety and efficacy results are expected in 2Q22. FMX114 is VYNE’s proprietary investigational combination gel formulation of tofacitinib and fingolimod that is designed to address both the source and cause of inflammation in AD. We think FMX114 has the potential to be the first topical combination product for the treatment of AD. The news today underscores our positive investment thesis on VYNE. Therefore, we are reiterating our OW rating and $10 PT for the stock."

For an analyst ratings summary and ratings history on VYNE Therapeutics click here. For more ratings news on VYNE Therapeutics click here.

Shares of VYNE Therapeutics closed at $0.61 yesterday.

By Vlad Schepkov

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