VYNE Therapeutics (NASDAQ:VYNE) Rating Increased to Buy at Zacks Investment Research

VYNE Therapeutics (NASDAQ:VYNE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Zacks.com reports. The firm currently has a $1.50 price target on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 15.38% from the stock’s current price.

According to Zacks, “VYNE Therapeutics Inc. focuses on developing and commercializing therapeutics for dermatology. The company’s product pipeline consist FMX103 and FCD105 which are in clinical stage. VYNE Therapeutics Inc., formerly known as Menlo Therapeutics Inc., is based in Bridgewater, New Jersey. “

Other research analysts have also recently issued reports about the stock. Northland Securities dropped their target price on shares of VYNE Therapeutics from $12.00 to $6.00 and set an “outperform” rating for the company in a report on Friday, August 13th. HC Wainwright lowered shares of VYNE Therapeutics from a “buy” rating to a “neutral” rating in a research report on Monday, August 16th.

NASDAQ VYNE traded up $0.04 during trading hours on Thursday, hitting $1.30. 198,446 shares of the stock were exchanged, compared to its average volume of 1,327,258. The company has a market cap of $66.97 million, a price-to-earnings ratio of -0.66 and a beta of 0.68. VYNE Therapeutics has a 12-month low of $1.18 and a 12-month high of $13.20. The stock has a 50-day moving average of $1.64 and a 200 day moving average of $3.23.

VYNE Therapeutics (NASDAQ:VYNE) last issued its earnings results on Thursday, August 12th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.36) by $0.01. VYNE Therapeutics had a negative net margin of 554.66% and a negative return on equity of 138.73%. The company had revenue of $4.26 million during the quarter, compared to analysts’ expectations of $6.19 million. On average, analysts expect that VYNE Therapeutics will post -1.34 earnings per share for the current year.

In related news, major shareholder Perceptive Advisors Llc sold 338,897 shares of the firm’s stock in a transaction that occurred on Thursday, August 12th. The shares were sold at an average price of $2.23, for a total transaction of $755,740.31. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.80% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of VYNE Therapeutics by 23.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 40,050 shares of the company’s stock valued at $141,000 after purchasing an additional 7,609 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of VYNE Therapeutics in the 2nd quarter valued at $42,000. Staley Capital Advisers Inc. boosted its holdings in shares of VYNE Therapeutics by 50.0% in the 2nd quarter. Staley Capital Advisers Inc. now owns 37,500 shares of the company’s stock valued at $132,000 after purchasing an additional 12,500 shares during the last quarter. Axiom Investment Management LLC acquired a new position in shares of VYNE Therapeutics in the 1st quarter valued at $101,000. Finally, Platform Technology Partners acquired a new position in shares of VYNE Therapeutics in the 2nd quarter valued at $56,000. Institutional investors own 35.45% of the company’s stock.

About VYNE Therapeutics

VYNE Therapeutics, Inc engages in the manufacture of pharmaceutical products. It develops and commercialize solutions using its proprietary Molecule Stabilizing Technology. Its commercial products include AMZEEQ and ZILXI. The company is headquartered in Bridgewater, NJ.

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