VYNE Therapeutics (NASDAQ:VYNE) stock price predictions are heating up on Monday with one analyst setting a high goal for the company to reach.
H.C. Wainwright analyst Joseph Pantginis is behind today’s news as he initiates coverage of the stock. Pantginis set a buy rating and $7 per share price target for the company in a letter to investors.
So how does the H.C. Wainwright analyst’s VYNE stock rating compare to his peers? Currently, the stock has a buy rating, which comes from three analysts setting a buy rating for the shares. In addition to that, the consensus price target for the stock is sitting at $6.50 per share.
Pantginis is taking such a bullish stance on VYNE stock for a couple of reasons. That includes its”reinvigorated” pipeline of assets. The company is putting its efforts toward developing novel therapies for inflammatory issues, reports TheFly.com.
The new rating and price target for VYNE Therapeutics stock today brings with it heavy trading of the shares. As of this writing, more than 18 million units have been traded. That’s quite the jump compared to the company’s daily average trading volume of about 676,000 shares.
The strong price predictions for VYNE stock have shares on the rise this morning. As a result, the stock is up 26.9% as of this writing. However, shares are still down 82.3% since the start of the year.
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