Veradermics (NYSE:MANE) Shares Gap Up on Analyst Upgrade

Veradermics, Incorporated (NYSE:MANE) shares gapped up prior to trading on Wednesday after Needham & Company LLC raised their price target on the stock from $136.00 to $164.00. The stock had previously closed at $110.17, but opened at $118.75. Needham & Company LLC currently has a buy rating on the stock. Veradermics shares last traded at $125.65, with a volume of 213,074 shares changing hands.

Several other analysts have also recently commented on the stock. UBS Group set a $170.00 target price on shares of Veradermics in a research note on Wednesday. B. Riley Financial assumed coverage on shares of Veradermics in a research note on Wednesday. They set a “buy” rating and a $170.00 price target on the stock. Jefferies Financial Group upped 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. Citigroup upped their price target on Veradermics from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Finally, Leerink Partners increased their price objective on shares of Veradermics from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Veradermics currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.43.

Trending Headlines about Veradermics

Here are the key news stories impacting Veradermics this week:

• Positive Sentiment: Veradermics released positive Phase 2 data showing its oral hair-loss drug VDPHL01 improved outcomes in women with pattern hair loss, suggesting broader market potential beyond the male patient group. Article Title
• Positive Sentiment: Needham raised its price target on Veradermics to $164 from $136 and reiterated a buy rating, signaling increased confidence in the company’s clinical and commercial outlook. Article Title
• Neutral Sentiment: The company scheduled an investor conference call to discuss the female study results, which keeps attention focused on the upcoming Phase 2/3 readout rather than changing the investment thesis on its own. Article Title
• Neutral Sentiment: Multiple media reports highlighted the same trial update and the stock’s reaction, reinforcing that the move is being driven by the new efficacy data and analyst optimism. Article Title

Veradermics Trading Down 7.7%

The company’s fifty day simple moving average is $106.84. The company has a market cap of $4.77 billion and a P/E ratio of -85.38.

Veradermics (NYSE:MANE) last issued its 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

MANE is a global manufacturer and supplier of flavors, fragrances and ingredients for the food, beverage, personal care, household and fine fragrance markets. Headquartered in France, the company develops and produces aromatic solutions that are used by consumer goods companies, food processors, perfumers and formulators seeking sensory impact, taste modulation and olfactory character for their products.

The company’s product portfolio includes savory and sweet flavor systems, beverage concentrates, natural extracts, essential oils, fragrance compounds, cosmetic ingredients and specialty functional solutions such as taste enhancers and odor masking agents.