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.
Investors seeking more stock market news today will want to stick around!
InvestorPlace has all the latest stock coverage that traders need to know about for Monday. A few examples include what’s happening with shares of CF Acquisition Corp. VI (NASDAQ:CFVI), Insignia Systems (NASDAQ:ISIG) jumping on strategic alternatives talk, as well as AMC Theaters (NYSE:AMC) entering the NFT game. You can learn all about these topics at the following links!
More Monday Stock Market News
- Is CFVI Stock the Next DWAC? The New ‘Trump Trade’ Rallies Ahead of Rumble SPAC Merger.
- ISIG Stock: 6 Things to Know About Insignia Systems as Shares Rocket Today
- AMC Investor Connect Puts NFTs in Holders’ Hands
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed