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

Veradermics, Incorporated (NYSE:MANE) has received an average recommendation of “Moderate Buy” from the nine analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $153.00.

A number of equities analysts have recently weighed in on MANE shares. Needham & Company LLC increased their price target on Veradermics from $136.00 to $164.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. 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. Jefferies Financial Group raised their price target on Veradermics from $138.00 to $182.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Wall Street Zen upgraded Veradermics from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Veradermics in a research note on Friday, August 21st.

Veradermics Price Performance

Shares of NYSE:MANE opened at $117.13 on Monday. The business’s 50 day moving average price is $106.38 and its 200-day moving average price is $96.02. The firm has a market capitalization of $4.89 billion and a price-to-earnings ratio of -61.65. Veradermics has a 1 year low of $32.00 and a 1 year high of $131.24.

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

Insider Buying and Selling at Veradermics

In other Veradermics news, Director Montanova Capital, Llc sold 750,000 shares of the business’s 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 transaction, the director owned 461,033 shares in the company, valued at $49,445,789.25. The trade was a 61.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John Childs sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $107.12, for a total transaction of $10,712,000.00. Following the sale, the director owned 194,117 shares in the company, valued at $20,793,813.04. The trade was a 34.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 961,000 shares of company stock worth $103,120,220 over the last ninety days.

Institutional Investors Weigh In On Veradermics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System purchased a new stake in Veradermics in the 2nd quarter valued at $524,000. Wellington Management Group LLP acquired a new position in Veradermics in the 2nd quarter valued at about $8,425,000. Seven Fleet Capital Management LP purchased a new stake in shares of Veradermics in the second quarter valued at about $9,835,000. Bamco Inc. NY lifted its holdings in 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 acquiring an additional 169,913 shares during the period. Finally, Montanova Capital LLC purchased a new position in Veradermics in the second quarter valued at about $512,533,000.

About Veradermics

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.