Veradermics, Incorporated (NYSE:MANE) Stock Has Average Price Target of $153.00

Shares of Veradermics, Incorporated (NYSE:MANE) have been given a consensus rating of “Moderate Buy” by the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. One 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 twelve-month target price among brokerages that have issued a report on the stock in the last year is $163.86.

Several research firms have issued reports on MANE. Cantor Fitzgerald reiterated an “overweight” rating on shares of Veradermics in a research note on Monday. Citigroup reissued a “buy” rating on shares of Veradermics in a research report on Tuesday, September 15th. UBS Group set a $204.00 price target on Veradermics in a research report on Thursday. Weiss Ratings reissued a “sell (d+)” rating on shares of Veradermics in a report on Friday, August 21st. Finally, Wall Street Zen upgraded shares of Veradermics from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st.

Veradermics Price Performance

Shares of NYSE MANE opened at $138.90 on Friday. Veradermics has a twelve month low of $32.00 and a twelve month high of $141.75. The firm has a fifty day simple moving average of $110.63 and a 200 day simple moving average of $104.44.

Veradermics (NYSE:MANE) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.58) EPS for the quarter, meeting the consensus estimate of ($0.58). As a group, research analysts anticipate that Veradermics will post -2.87 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Montanova Capital, Llc sold 750,000 shares of the firm’s stock in a transaction dated 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 sale, the director owned 461,033 shares in the company, valued at approximately $49,445,789.25. This trade represents a 61.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $7,280,550.00. Following the completion of the transaction, the chief executive officer owned 170,824 shares in the company, 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. In the last three months, insiders have sold 961,000 shares of company stock valued at $103,120,220.

Institutional Investors Weigh In On Veradermics

Several hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC raised its position in shares of Veradermics by 233.2% in the third quarter. Sterling Capital Management LLC now owns 633 shares of the company’s stock worth $77,000 after acquiring an additional 443 shares during the period. Nvwm LLC increased its stake in shares of Veradermics by 105.4% in the 3rd quarter. Nvwm LLC now owns 228 shares of the company’s stock worth $28,000 after acquiring an additional 117 shares during the last quarter. Private Capital Advisors Inc. increased its holdings in shares of Veradermics by 158.4% during the 3rd quarter. Private Capital Advisors Inc. now owns 6,291 shares of the company’s stock worth $763,000 after buying an additional 3,856 shares during the last quarter. Arizona State Retirement System purchased a new stake in Veradermics in the 2nd quarter valued at about $524,000. Finally, Seven Fleet Capital Management LP acquired a new position in Veradermics during the second quarter worth $9,835,000.

Veradermics Company Profile

Veradermics, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for dermatologic conditions. The company’s research and development activities are directed toward treatments for diseases and disorders affecting the skin, hair and nails, with an emphasis on addressing areas where existing treatment options are limited.

Veradermics’ pipeline includes investigational topical therapies designed for conditions such as hair loss and other dermatological disorders.