Veradermics, Incorporated (NYSE:MANE) Receives $153.00 Consensus Price Target from Analysts

Shares of Veradermics, Incorporated (NYSE:MANE) have been given an average rating of “Moderate Buy” by the nine brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $153.00.

Several equities analysts have recently issued reports on MANE shares. Lifesci Capital assumed coverage on Veradermics in a research note on Tuesday, June 16th. They set an “outperform” rating and a $135.00 price target on the stock. B. Riley Financial started coverage on Veradermics in a report on Wednesday, July 15th. They set a “buy” rating and a $170.00 price objective for the company. Jefferies Financial Group upped their target price on shares of Veradermics from $138.00 to $182.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Needham & Company LLC lifted their price target on shares of Veradermics from $136.00 to $164.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Finally, Wall Street Zen raised shares of Veradermics from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st.

Insider Buying and Selling

In other Veradermics news, Director John W. Childs sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $107.12, for a total transaction of $10,712,000.00. Following the sale, the director directly owned 194,117 shares in the company, valued at approximately $20,793,813.04. This trade represents a 34.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Reid Alexander Waldman sold 67,500 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $107.86, for a total value of $7,280,550.00. Following the transaction, the chief executive officer directly 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 961,000 shares of company stock valued at $103,120,220 in the last three months.

Institutional Investors Weigh In On Veradermics

Large investors have recently made changes to their positions in the stock. Arizona State Retirement System acquired a new stake in Veradermics in the 2nd quarter valued at about $524,000. Seven Fleet Capital Management LP acquired a new stake in shares of Veradermics during the second quarter worth $9,835,000. Montanova Capital LLC bought a new stake in Veradermics in the 2nd quarter valued at about $512,533,000. Wellington Management Group LLP bought a new stake in shares of Veradermics in the second quarter valued at approximately $8,425,000. Finally, Bamco Inc. NY lifted its position 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 acquiring an additional 169,913 shares during the period.

Veradermics Price Performance

Veradermics stock opened at $115.73 on Monday. The firm has a market capitalization of $4.84 billion and a P/E ratio of -60.91. The stock has a fifty day moving average price of $106.08 and a two-hundred day moving average price of $95.41. Veradermics has a 52-week low of $32.00 and a 52-week high of $131.24.

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

Veradermics Company Profile

Veradermics, Inc is a dermatology-focused biopharmaceutical company developing and commercializing therapies for conditions affecting the skin, hair and nails. The company’s research and development activities target common and underserved dermatologic diseases, with an emphasis on treatments that may offer alternatives to existing therapies.

Veradermics is advancing a pipeline of dermatology product candidates across multiple stages of development, including treatments for hair loss and other skin disorders.