Needham & Company LLC Issues Positive Forecast for Veradermics (NYSE:MANE) Stock Price

Veradermics (NYSE:MANE) had its target price hoisted by Needham & Company LLC from $164.00 to $172.00 in a report released on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts also recently issued reports about the company. Jefferies Financial Group raised their price objective on Veradermics from $138.00 to $182.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. UBS Group set a $170.00 price objective on shares of Veradermics in a report on Wednesday, July 15th. B. Riley Financial started coverage on shares of Veradermics in a research report on Wednesday, July 15th. They issued a “buy” rating and a $170.00 target price on the stock. Citigroup reaffirmed a “buy” rating on shares of Veradermics in a research note on Tuesday, September 15th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Veradermics in a research report on Monday. Seven 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. Based on data from MarketBeat, Veradermics has an average rating of “Moderate Buy” and an average price target of $154.14.

Veradermics Stock Performance

Shares of Veradermics stock opened at $121.95 on Monday. The stock has a 50 day moving average of $109.10 and a 200 day moving average of $102.91. The firm has a market capitalization of $5.10 billion and a price-to-earnings ratio of -64.18. Veradermics has a fifty-two week low of $32.00 and a fifty-two week high of $136.71.

Veradermics (NYSE:MANE) last posted its earnings results on Tuesday, August 11th. The company reported ($0.58) EPS for the quarter, meeting analysts’ consensus estimates of ($0.58). Analysts forecast that Veradermics will post -2.74 EPS for the current year.

Insider Transactions at Veradermics

In other news, insider Timothy August Durso sold 43,500 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $107.82, for a total transaction of $4,690,170.00. Following the completion of the transaction, the insider directly owned 78,142 shares in the company, valued at $8,425,270.44. This trade represents a 35.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 Veradermics stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $107.25, for a total value of $80,437,500.00. Following the completion of the sale, the director directly owned 461,033 shares of the company’s stock, valued at $49,445,789.25. The trade was a 61.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 961,000 shares of company stock valued at $103,120,220.

Hedge Funds Weigh In On Veradermics

A number of hedge funds and other institutional investors have recently bought and sold shares of MANE. Montanova Capital LLC purchased a new stake in Veradermics during the second quarter worth about $512,533,000. Wellington Management Group LLP acquired a new stake in shares of Veradermics during the second quarter worth about $8,425,000. Seven Fleet Capital Management LP purchased a new position in shares of Veradermics in the second quarter valued at approximately $9,835,000. Bamco Inc. NY boosted its stake in shares of 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 purchasing an additional 169,913 shares during the period. Finally, Nvwm LLC grew its holdings in shares of Veradermics by 105.4% in the third quarter. Nvwm LLC now owns 228 shares of the company’s stock valued at $28,000 after purchasing an additional 117 shares in the last quarter.

More Veradermics News

Here are the key news stories impacting Veradermics this week:

• Positive Sentiment: VDPHL01 achieved the study’s Phase 3 goals, demonstrating early, consistent, and robust hair growth in men with mild-to-moderate pattern hair loss. The results were described as potentially transformative for treatment. Veradermics Soars 10% as Phase 3 Data Show Oral Hair-Loss Pill Could Transform Treatment
• Positive Sentiment: The late-stage trial win reduces a major development risk for Veradermics and supports the potential for VDPHL01 to compete in the large hair-loss treatment market. Veradermics Scores Another Late-Stage Trial Win for Hair Loss Therapy
• Positive Sentiment: Analyst sentiment also improved: Needham raised its price target from $164 to $172 and maintained a Buy rating, while Cantor Fitzgerald reaffirmed its Overweight rating. Veradermics Earns Overweight Rating from Cantor Fitzgerald
• Neutral Sentiment: The company reviewed the Part A results during an investor conference call. The announcement contains topline findings; investors will still look for complete clinical, safety, regulatory, and commercialization details before assigning final approval and revenue expectations. Veradermics to Hold Conference Call to Discuss Phase 3 Results

About Veradermics

Veradermics, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for dermatologic conditions. The company’s research and development activities are directed toward treatments for diseases and disorders affecting the skin, hair and nails, with an emphasis on addressing areas where existing treatment options are limited.

Veradermics’ pipeline includes investigational topical therapies designed for conditions such as hair loss and other dermatological disorders.