Veradermics (NYSE:MANE) Reaches New 52-Week High After Analyst Upgrade

Shares of Veradermics, Incorporated (NYSE:MANE) reached a new 52-week high on Tuesday after Leerink Partners raised their price target on the stock from $135.00 to $150.00. Leerink Partners currently has an outperform rating on the stock. Veradermics traded as high as $147.00 and last traded at $151.33, with a volume of 23,953 shares traded. The stock had previously closed at $143.95.

A number of other brokerages have also recently commented on MANE. UBS Group set a $204.00 target price on shares of Veradermics in a report on Thursday, October 22nd. Wall Street Zen raised Veradermics from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Citigroup restated a “buy” rating on shares of Veradermics in a report on Tuesday, September 15th. Weiss Ratings restated a “sell (d+)” rating on shares of Veradermics in a research report on Friday, August 21st. Finally, Needham & Company LLC increased their price objective on Veradermics from $164.00 to $172.00 and gave the company a “buy” rating in a research note on Monday, October 19th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $172.43.

Insider Buying and Selling

In other Veradermics news, CEO Reid Alexander Waldman sold 67,500 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $107.86, for a total value of $7,280,550.00. Following the completion of the sale, the chief executive officer owned 170,824 shares of the company’s stock, valued at $18,425,076.64. This trade represents a 28.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Montanova Capital, Llc sold 750,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director owned 461,033 shares of the company’s stock, valued at approximately $49,445,789.25. This trade represents a 61.93% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 961,000 shares of company stock worth $103,120,220.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Montanova Capital LLC purchased a new stake in shares of Veradermics in the 2nd quarter valued at approximately $512,533,000. Wellington Management Group LLP acquired a new stake in shares of Veradermics during the 2nd quarter valued at about $8,425,000. Seven Fleet Capital Management LP bought a new stake in Veradermics in the second quarter worth approximately $9,835,000. Profund Advisors LLC boosted its holdings in Veradermics by 399.8% in the third quarter. Profund Advisors LLC now owns 15,843 shares of the company’s stock worth $1,921,000 after purchasing an additional 12,673 shares in the last quarter. Finally, Bamco Inc. NY raised its stake in shares of Veradermics by 284.8% in the 2nd 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 in the last quarter.

Veradermics Stock Up 3.0%

The company has a market cap of $6.19 billion and a P/E ratio of -78.59. The stock’s 50-day moving average price is $118.66 and its 200 day moving average price is $97.43.

Veradermics (NYSE:MANE) last announced its quarterly earnings data on Tuesday, November 10th. The company reported ($0.50) EPS for the quarter. Analysts expect that Veradermics, Incorporated will post -2.87 earnings per share for the current fiscal year.

Veradermics Company Profile