Veradermics, Incorporated (NYSE:MANE) Stock Has Average Target Price of $172.43

Shares of Veradermics, Incorporated (NYSE:MANE) have earned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $174.57.

A number of equities analysts have recently issued reports on MANE shares. Needham & Company LLC increased their price objective on shares of Veradermics from $164.00 to $172.00 and gave the company a “buy” rating in a research note on Monday, October 19th. Leerink Partners boosted their price objective on shares of Veradermics from $135.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, November 9th. Wall Street Zen upgraded Veradermics from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings cut Veradermics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday. Finally, Citigroup lifted their price target on Veradermics from $160.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, November 10th.

Insider Buying and Selling

In other Veradermics news, insider Timothy August Durso sold 43,500 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $107.82, for a total value of $4,690,170.00. Following the completion of the transaction, the insider directly owned 78,142 shares in the company, valued at approximately $8,425,270.44. The trade was a 35.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 stock in a transaction dated 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 of the company’s stock, valued at approximately $49,445,789.25. The trade was a 61.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,361,000 shares of company stock valued at $167,598,220.

Institutional Investors Weigh In On Veradermics

A number of hedge funds and other institutional investors have recently bought and sold shares of MANE. Montanova Capital LLC acquired a new position in shares of Veradermics during the second quarter worth $512,533,000. Bamco Inc. NY lifted its holdings in shares of Veradermics by 284.8% during the 2nd quarter. Bamco Inc. NY now owns 229,581 shares of the company’s stock valued at $28,225,000 after purchasing an additional 169,913 shares during the last quarter. Seven Fleet Capital Management LP acquired a new stake in shares of Veradermics in the 2nd quarter worth $9,835,000. Wellington Management Group LLP acquired a new stake in shares of Veradermics in the 2nd quarter worth $8,425,000. Finally, HighVista Strategies LLC purchased a new position in Veradermics during the 3rd quarter worth $6,575,000.

Veradermics Stock Down 4.5%

NYSE:MANE traded down $6.11 during mid-day trading on Tuesday, reaching $129.18. The company’s stock had a trading volume of 937,902 shares, compared to its average volume of 725,581. Veradermics has a 1 year low of $32.00 and a 1 year high of $156.63. The stock has a fifty day moving average of $122.19 and a 200-day moving average of $98.39. The firm has a market capitalization of $5.45 billion and a PE ratio of -67.99.

Veradermics (NYSE:MANE) last issued its earnings results on Tuesday, November 10th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.09. On average, analysts expect that Veradermics will post -2.87 earnings per share for the current year.

Veradermics Company Profile

Veradermics is a clinical-stage biopharmaceutical company focused on developing treatments for hair loss. Its lead candidate, VDPHL01, is an investigational oral formulation of minoxidil being studied for androgenetic alopecia, commonly known as male- or female-pattern hair loss. The company has described the treatment as designed for once-daily use. VDPHL01 remains under clinical investigation and is not an approved treatment. Veradermics is led by founder and Chief Executive Officer Reid Waldman, a physician specializing in dermatology.