Leerink Partners Forecasts Strong Price Appreciation for Veradermics (NYSE:MANE) Stock

Veradermics (NYSE:MANE) had its price objective lifted by stock analysts at Leerink Partners from $135.00 to $150.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Leerink Partners‘s price objective indicates a potential upside of 4.58% from the stock’s current price.

MANE has been the topic of a number of other reports. Weiss Ratings restated a “sell (d+)” rating on shares of Veradermics in a report on Friday, August 21st. Citigroup reissued a “buy” rating on shares of Veradermics in a research report on Tuesday, September 15th. UBS Group set a $204.00 target price on shares of Veradermics in a research note on Thursday, October 22nd. Needham & Company LLC lifted their price target on shares of Veradermics from $164.00 to $172.00 and gave the stock a “buy” rating in a report on Monday, October 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Veradermics in a report on Monday, October 19th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.43.

Veradermics Trading Up 3.4%

Shares of MANE traded up $4.66 during trading hours on Monday, hitting $143.44. The company had a trading volume of 491,920 shares, compared to its average volume of 641,743. The company has a market capitalization of $5.99 billion and a PE ratio of -75.49. Veradermics has a one year low of $32.00 and a one year high of $146.57. The company’s fifty day moving average price is $117.75 and its two-hundred day moving average price is $97.17.

Veradermics (NYSE:MANE) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.58) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.58). Analysts forecast that Veradermics will post -2.87 earnings per share for the current year.

Insider Transactions at Veradermics

In other news, insider Timothy August Durso sold 43,500 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $107.82, for a total value of $4,690,170.00. Following the transaction, the insider directly owned 78,142 shares of the company’s stock, valued at approximately $8,425,270.44. This represents a 35.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John W. Childs sold 100,000 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $107.12, for a total value of $10,712,000.00. Following the completion of the transaction, the director directly owned 194,117 shares in the company, valued at $20,793,813.04. This represents a 34.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 961,000 shares of company stock valued at $103,120,220 in the last quarter.

Institutional Investors Weigh In On Veradermics

A number of large investors have recently bought and sold shares of MANE. Nvwm LLC raised its position in Veradermics by 105.4% during the 3rd quarter. Nvwm LLC now owns 228 shares of the company’s stock worth $28,000 after buying an additional 117 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Veradermics by 8.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,905 shares of the company’s stock valued at $231,000 after acquiring an additional 147 shares during the last quarter. Sterling Capital Management LLC increased its stake in shares of Veradermics by 233.2% in the third quarter. Sterling Capital Management LLC now owns 633 shares of the company’s stock worth $77,000 after acquiring an additional 443 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of Veradermics by 22.0% in the third quarter. Pictet Asset Management Holding SA now owns 2,491 shares of the company’s stock worth $302,000 after acquiring an additional 449 shares during the period. Finally, Private Capital Advisors Inc. raised its holdings in shares of Veradermics by 158.4% during the third quarter. Private Capital Advisors Inc. now owns 6,291 shares of the company’s stock worth $763,000 after purchasing an additional 3,856 shares during the last quarter.

About Veradermics