Veradermics (NYSE:MANE) Trading Down 4.4% – Time to Sell?

Veradermics, Incorporated (NYSE:MANE)’s share price traded down 4.4% during trading on Monday . The stock traded as low as $98.26 and last traded at $100.3570. Approximately 561,446 shares changed hands during mid-day trading, a decline of 1% from the average session volume of 567,439 shares. The stock had previously closed at $105.00.

Analyst Ratings Changes

MANE has been the subject of a number of recent research reports. Leerink Partners raised their target price on Veradermics from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Needham & Company LLC increased their price target on Veradermics from $136.00 to $164.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. B. Riley Financial initiated coverage on Veradermics in a report on Wednesday, July 15th. They issued a “buy” rating and a $170.00 price objective for the company. UBS Group set a $170.00 price objective on Veradermics in a research note on Wednesday, July 15th. Finally, Jefferies Financial Group increased their target price on shares of Veradermics from $138.00 to $182.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $153.00.

Veradermics Stock Performance

The company has a 50-day simple moving average of $108.10. The company has a market cap of $4.47 billion and a PE ratio of -81.03.

Veradermics (NYSE:MANE) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($1.32) earnings per share for the quarter, missing the consensus estimate 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.