Veradermics, Incorporated (NYSE:MANE) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Veradermics, Incorporated (NYSE:MANE) have earned an average rating of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $153.00.

MANE has been the subject of a number of recent research reports. Needham & Company LLC boosted 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. Wall Street Zen raised shares of Veradermics from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. B. Riley Financial began coverage on shares of Veradermics in a research note on Wednesday, July 15th. They issued a “buy” rating and a $170.00 price objective for the company. UBS Group set a $170.00 target price on shares of Veradermics in a research report on Wednesday, July 15th. Finally, Jefferies Financial Group lifted their price target on shares of Veradermics from $138.00 to $182.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th.

Insider Buying and Selling

In related news, insider Timothy August Durso sold 43,500 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $107.82, for a total transaction of $4,690,170.00. Following the completion of the sale, the insider owned 78,142 shares of the company’s stock, valued at $8,425,270.44. This represents a 35.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Reid Alexander Waldman sold 67,500 shares of Veradermics stock in a transaction that occurred on Monday, August 17th. The shares were 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 directly owned 170,824 shares in the company, valued at $18,425,076.64. This trade represents a 28.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 961,000 shares of company stock worth $103,120,220 in the last quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Montanova Capital LLC bought a new stake in shares of Veradermics during the 2nd quarter valued at approximately $512,533,000. Bamco Inc. NY boosted its position in Veradermics by 284.8% during the 2nd quarter. Bamco Inc. NY now owns 229,581 shares of the company’s stock worth $28,225,000 after buying an additional 169,913 shares during the period. Seven Fleet Capital Management LP bought a new stake in Veradermics during the 2nd quarter worth approximately $9,835,000. Wellington Management Group LLP acquired a new position in Veradermics in the 2nd quarter valued at approximately $8,425,000. Finally, California State Teachers Retirement System bought a new position in shares of Veradermics during the second quarter valued at $385,292,000.

Veradermics Stock Up 1.2%

Veradermics stock opened at $98.67 on Thursday. The company’s 50-day moving average price is $111.35 and its two-hundred day moving average price is $89.53. The stock has a market cap of $4.12 billion and a P/E ratio of -51.93. Veradermics has a twelve month low of $32.00 and a twelve month high of $131.24.

Veradermics (NYSE:MANE) last posted its earnings results on Tuesday, August 11th. The company reported ($0.58) EPS for the quarter, meeting the consensus estimate of ($0.58). Equities analysts anticipate that Veradermics will post -2.74 earnings per share for the current fiscal year.

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.