Veradermics (NYSE:MANE) Trading Down 4.4% – Time to Sell?

Veradermics, Incorporated (NYSE:MANE) dropped 4.4% on Monday . The stock traded as low as $98.26 and last traded at $100.3570. Approximately 561,446 shares changed hands during mid-day trading, a decline of 1% from the average daily volume of 567,439 shares. The stock had previously closed at $105.00.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Citigroup raised their target price on Veradermics from $135.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Leerink Partners lifted their price objective on shares of Veradermics from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. UBS Group set a $170.00 price objective on shares of Veradermics in a research report on Wednesday, July 15th. Weiss Ratings initiated coverage on Veradermics in a research note on Tuesday, May 26th. They set a “sell (d+)” rating for the company. Finally, Needham & Company LLC increased their price target on Veradermics from $136.00 to $164.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $153.00.

Veradermics Stock Performance

The firm has a market capitalization of $4.01 billion and a PE ratio of -72.82. The stock’s fifty day simple moving average is $108.02.

Veradermics (NYSE:MANE) last posted its earnings results on Tuesday, May 12th. The company reported ($1.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.76).

About Veradermics

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.