Veradermics, Incorporated (NYSE:MANE) Stock Has Consensus Target Price of $153.00 According to Analysts

Veradermics, Incorporated (NYSE:MANE) has been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat.com 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 analysts that have issued ratings on the stock in the last year is $153.00.

MANE has been the topic of a number of recent analyst reports. Needham & Company LLC lifted their price objective on Veradermics from $136.00 to $164.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. UBS Group set a $170.00 price objective on Veradermics in a research report on Wednesday, July 15th. Wall Street Zen upgraded Veradermics from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Veradermics in a report on Friday, August 21st. Finally, Citigroup reaffirmed a “buy” rating on shares of Veradermics in a report on Tuesday, September 15th.

Insiders Place Their Bets

In other news, insider Timothy August Durso sold 43,500 shares of the stock in a transaction that occurred on 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 completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Montanova Capital, Llc sold 750,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the director owned 461,033 shares in the company, valued at approximately $49,445,789.25. The trade was a 61.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 961,000 shares of company stock valued at $103,120,220 in the last three months.

Institutional Trading of Veradermics

A number of hedge funds have recently bought and sold shares of MANE. Montanova Capital LLC bought a new stake in Veradermics in the 2nd quarter valued at $512,533,000. Wellington Management Group LLP bought a new position in shares of Veradermics during the 2nd quarter worth about $8,425,000. Seven Fleet Capital Management LP bought a new position in shares of Veradermics during the 2nd quarter worth about $9,835,000. Bamco Inc. NY increased 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 worth $28,225,000 after purchasing an additional 169,913 shares during the period. Finally, Nvwm LLC raised its position in shares of Veradermics by 105.4% during the third quarter. Nvwm LLC now owns 228 shares of the company’s stock valued at $28,000 after buying an additional 117 shares during the last quarter.

Veradermics Price Performance

Shares of MANE opened at $114.78 on Friday. The company has a market capitalization of $4.80 billion and a PE ratio of -60.41. Veradermics has a one year low of $32.00 and a one year high of $136.71. The company’s fifty day moving average price is $108.96 and its 200 day moving average price is $102.15.

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

Veradermics Company Profile

Veradermics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for dermatologic diseases. The company’s research and development efforts are aimed at addressing conditions that affect the skin, hair and nails, with an emphasis on treatments designed to improve patient outcomes and quality of life.

Veradermics is advancing a pipeline of investigational dermatology products across multiple disease areas. Its activities include the discovery, clinical development and potential commercialization of prescription therapies for conditions with unmet medical needs.