Veradermics (NYSE:MANE) Price Target Raised to $175.00

Veradermics (NYSE:MANE) had its target price upped by Citigroup from $160.00 to $175.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

MANE has been the topic of a number of other reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Veradermics in a research report on Friday, August 21st. B. Riley Financial boosted their price target on Veradermics from $170.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Wall Street Zen raised Veradermics from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Cantor Fitzgerald reissued an “overweight” rating on shares of Veradermics in a research note on Monday, October 19th. Finally, Needham & Company LLC raised their price objective on Veradermics from $164.00 to $172.00 and gave the stock a “buy” rating in a report on Monday, October 19th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Veradermics has an average rating of “Moderate Buy” and an average price target of $174.57.

Veradermics Stock Down 13.4%

Shares of Veradermics stock opened at $135.53 on Tuesday. The stock’s fifty day moving average is $121.56 and its two-hundred day moving average is $98.22. Veradermics has a 52 week low of $32.00 and a 52 week high of $156.63.

Veradermics (NYSE:MANE) last issued its earnings results on Tuesday, November 10th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.09. As a group, research analysts predict that Veradermics will post -2.87 EPS for the current year.

Insider Transactions at Veradermics

In related news, Director Montanova Capital, Llc sold 750,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $107.25, for a total transaction of $80,437,500.00. Following the sale, the director owned 461,033 shares of the company’s stock, valued at $49,445,789.25. This trade represents a 61.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Reid Alexander Waldman sold 67,500 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $107.86, for a total transaction of $7,280,550.00. Following the completion of the transaction, the chief executive officer owned 170,824 shares of the company’s stock, valued at $18,425,076.64. This represents a 28.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 861,000 shares of company stock valued at $92,408,220.

Institutional Trading of Veradermics

A number of institutional investors have recently modified their holdings of MANE. Montanova Capital LLC purchased a new stake in Veradermics during the second quarter valued at approximately $512,533,000. Wellington Management Group LLP acquired a new stake in Veradermics in the second quarter valued at approximately $8,425,000. Seven Fleet Capital Management LP acquired a new stake in Veradermics in the second quarter valued at approximately $9,835,000. Profund Advisors LLC boosted its stake in Veradermics by 399.8% in the third quarter. Profund Advisors LLC now owns 15,843 shares of the company’s stock valued at $1,921,000 after acquiring an additional 12,673 shares in the last quarter. Finally, Bamco Inc. NY boosted its stake in Veradermics by 284.8% in the second quarter. Bamco Inc. NY now owns 229,581 shares of the company’s stock valued at $28,225,000 after acquiring an additional 169,913 shares in the last quarter.

About Veradermics

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.