Patrick G. LePore, a director at VYNE Therapeutics Inc. (NASDAQ:VYNE), recently acquired 15,000 shares of the company's common stock. The transaction, which took place on January 15, 2025, was executed at a weighted average price of $2.92 per share, totaling approximately $43,800. The purchase comes as InvestingPro data shows the stock has fallen nearly 30% in the past week, with the current market capitalization standing at $38.8 million. Following this purchase, LePore now holds 51,472 shares directly. The shares were acquired in a series of transactions with prices ranging from $2.8776 to $2.9836. According to InvestingPro analysis, VYNE appears undervalued at current levels and maintains a strong financial position with more cash than debt on its balance sheet. Subscribers to InvestingPro can access 5 additional exclusive insights about VYNE's financial health and growth prospects.
In other recent news, VYNE Therapeutics has made significant strides in its clinical trials and financial performance. The company completed enrollment in a Phase 2b trial for its vitiligo treatment, VYN201, earning a maintained Buy rating from H.C. Wainwright and a price target of $5.75. Analyst consensus also supports a strong Buy, with price targets ranging from $5.00 to $8.00.
BTIG has also initiated coverage on VYNE Therapeutics, issuing a Buy rating and setting a price target of $8.00, highlighting the potential of the company's lead program, VYN201. Additionally, VYNE's oral BET inhibitor, VYN202, is moving towards trials for psoriasis and rheumatoid arthritis.
Financially, VYNE reported a second-quarter loss per share of $0.22, but maintains a healthy financial position with $78.1 million in cash, projected to fund operations through 2025. TD Cowen and H.C. Wainwright have maintained their Buy ratings for the company.
These recent developments illustrate VYNE Therapeutics' ongoing commitment to innovation and growth in the healthcare sector. The company also recently started dosing for the Phase 2b trial for VYN201 in treating vitiligo, and secured a UK patent for its VYN202 program compound. Top-line results from the trial are expected to be released in mid-2025.
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