Veradermics, Incorporated (NYSE:MANE) Given Average Rating of “Moderate Buy” by Brokerages

Veradermics, Incorporated (NYSE:MANEGet Free Report) has been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $153.00.

MANE has been the subject of a number of research analyst reports. UBS Group set a $170.00 price target on Veradermics in a research note on Wednesday, July 15th. B. Riley Financial assumed coverage on Veradermics in a research note on Wednesday, July 15th. They set a “buy” rating and a $170.00 price target on the stock. Jefferies Financial Group upped their price objective on shares of Veradermics from $138.00 to $182.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Lifesci Capital initiated coverage on shares of Veradermics in a research report on Tuesday, June 16th. They issued an “outperform” rating and a $135.00 price objective for the company. Finally, Wall Street Zen raised shares of Veradermics from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st.

Get Our Latest Stock Analysis on Veradermics

Veradermics Stock Performance

Shares of MANE stock opened at $102.91 on Thursday. Veradermics has a 12-month low of $32.00 and a 12-month high of $131.24. The business’s fifty day simple moving average is $111.71. The firm has a market capitalization of $4.30 billion and a P/E ratio of -54.16.

Veradermics (NYSE:MANEGet Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.58) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.58). As a group, sell-side analysts forecast that Veradermics will post -2.74 earnings per share for the current year.

Insider Activity at Veradermics

In other news, CEO Reid Alexander Waldman sold 67,500 shares of Veradermics stock in a transaction on Monday, August 17th. The shares were sold at an average price of $107.86, for a total transaction of $7,280,550.00. Following the completion of the sale, the chief executive officer directly owned 170,824 shares in the company, valued at approximately $18,425,076.64. The trade was a 28.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Montanova Capital, Llc sold 750,000 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $107.25, for a total transaction of $80,437,500.00. Following the sale, the director directly owned 461,033 shares in the company, valued at $49,445,789.25. This trade represents a 61.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 961,000 shares of company stock worth $103,120,220.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Wellington Management Group LLP purchased a new position in shares of Veradermics in the second quarter worth about $8,425,000. Seven Fleet Capital Management LP purchased a new stake in Veradermics in the second quarter valued at approximately $9,835,000. Bamco Inc. NY increased its holdings in Veradermics by 284.8% in the 2nd quarter. Bamco Inc. NY now owns 229,581 shares of the company’s stock worth $28,225,000 after buying an additional 169,913 shares during the period. California State Teachers Retirement System acquired a new position in Veradermics in the 2nd quarter worth approximately $385,292,000. Finally, Montanova Capital LLC purchased a new position in Veradermics during the 2nd quarter worth approximately $512,533,000.

Veradermics Company Profile

(Get Free Report)

We are a dermatologist-founded, late clinical-stage biopharmaceutical company focused on developing innovative therapeutics to address pervasive treatment challenges in highly prevalent aesthetic and dermatological conditions. Our initial focus is developing better treatments for pattern hair loss, or PHL, a condition affecting approximately 50 million men and 30 million women in the United States. Current PHL treatment options are limited and therefore are consistently plagued with high rates of treatment failure, patient dissatisfaction and treatment discontinuation.

Further Reading

Analyst Recommendations for Veradermics (NYSE:MANE)

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