Veradermics, Incorporated’s (NYSE:MANE) Lock-Up Period To Expire on August 3rd

Veradermics’ (NYSE:MANE) lock-up period will end on Monday, August 3rd. Veradermics had issued 15,077,647 shares in its IPO on February 4th. The total size of the offering was $256,319,999 based on an initial share price of $17.00. After the expiration of Veradermics’ lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MANE shares. Lifesci Capital initiated coverage on Veradermics in a research report on Tuesday, June 16th. They issued an “outperform” rating and a $135.00 target price on the stock. Weiss Ratings initiated coverage on Veradermics in a report on Tuesday, May 26th. They set a “sell (d+)” rating for the company. Leerink Partners boosted their price objective on shares of Veradermics from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Wall Street Zen lowered shares of Veradermics from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Finally, Needham & Company LLC upped their target price on shares of Veradermics from $136.00 to $164.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Veradermics currently has a consensus rating of “Moderate Buy” and an average target price of $153.00.

Veradermics Price Performance

NYSE:MANE opened at $105.23 on Friday. Veradermics has a fifty-two week low of $32.00 and a fifty-two week high of $131.24. The business’s 50 day moving average is $107.94. The stock has a market cap of $4.40 billion and a PE ratio of -79.72.

Veradermics (NYSE:MANE) last announced its earnings results on Tuesday, May 12th. The company reported ($1.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.76).

About Veradermics

We are a dermatologist-founded, late clinical-stage biopharmaceutical company focused on developing innovative therapeutics to address pervasive treatment challenges in highly prevalent aesthetic and dermatological conditions. Our initial focus is developing better treatments for pattern hair loss, or PHL, a condition affecting approximately 50 million men and 30 million women in the United States. Current PHL treatment options are limited and therefore are consistently plagued with high rates of treatment failure, patient dissatisfaction and treatment discontinuation.