Veradermics, Incorporated (NYSE:MANE) Stock Has Average Price Target of $172.43

Shares of Veradermics, Incorporated (NYSE:MANE) have been given a consensus rating of “Moderate Buy” by the nine analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $172.43.

Several research analysts have recently issued reports on MANE shares. UBS Group set a $204.00 price objective on shares of Veradermics in a report on Thursday, October 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of Veradermics in a research report on Friday, August 21st. Needham & Company LLC upped their target price on Veradermics from $164.00 to $172.00 and gave the stock a “buy” rating in a research report on Monday, October 19th. Leerink Partners increased their price target on Veradermics from $135.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Veradermics in a research report on Monday, October 19th.

Insider Transactions at Veradermics

In other news, CEO Reid Alexander Waldman sold 67,500 shares of the firm’s stock in a transaction dated 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 owned 170,824 shares in the company, valued at approximately $18,425,076.64. This trade represents a 28.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Montanova Capital, Llc sold 750,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $107.25, for a total transaction of $80,437,500.00. Following the sale, the director directly owned 461,033 shares of the company’s stock, valued at approximately $49,445,789.25. This represents a 61.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 961,000 shares of company stock worth $103,120,220.

Institutional Investors Weigh In On Veradermics

Institutional investors and hedge funds have recently modified their holdings of the stock. Montanova Capital LLC bought a new stake in shares of Veradermics during the 2nd quarter worth $512,533,000. Bamco Inc. NY grew its holdings in shares of Veradermics by 284.8% in the 2nd quarter. Bamco Inc. NY now owns 229,581 shares of the company’s stock worth $28,225,000 after acquiring an additional 169,913 shares during the last quarter. Seven Fleet Capital Management LP acquired a new stake in shares of Veradermics during the second quarter worth $9,835,000. Wellington Management Group LLP acquired a new stake in shares of Veradermics during the second quarter worth $8,425,000. Finally, Alps Advisors Inc. lifted its holdings in shares of Veradermics by 31.2% during the third quarter. Alps Advisors Inc. now owns 55,356 shares of the company’s stock valued at $6,711,000 after purchasing an additional 13,150 shares during the last quarter.

Veradermics Trading Up 3.4%

Veradermics stock opened at $143.44 on Tuesday. Veradermics has a 52 week low of $32.00 and a 52 week high of $146.57. The stock has a market cap of $5.99 billion and a price-to-earnings ratio of -75.49. The company’s 50-day moving average price is $118.66 and its two-hundred day moving average price is $97.43.

Veradermics (NYSE:MANE) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.58) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.58). Research analysts expect that Veradermics will post -2.87 earnings per share for the current fiscal year.

Veradermics Company Profile