Veradermics (NYSE:MANE) Shares Up 5.4% – What’s Next?

Veradermics, Incorporated (NYSE:MANE)’s stock price shot up 5.4% on Friday . The stock traded as high as $111.77 and last traded at $111.5620. Approximately 84,772 shares were traded during trading, a decline of 85% from the average daily volume of 557,420 shares. The stock had previously closed at $105.83.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MANE. Needham & Company LLC raised their price objective on Veradermics from $136.00 to $164.00 and gave the stock a “buy” rating in a research report on Wednesday. Wall Street Zen downgraded Veradermics from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Weiss Ratings began coverage on shares of Veradermics in a research report on Tuesday, May 26th. They issued a “sell (d+)” rating for the company. Lifesci Capital assumed coverage on shares of Veradermics in a report on Tuesday, June 16th. They set an “outperform” rating and a $135.00 price target for the company. Finally, Citigroup boosted their price objective on shares of Veradermics from $135.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $153.00.

Veradermics Stock Up 9.1%

The company has a market capitalization of $4.82 billion and a price-to-earnings ratio of -86.57. The firm has a 50 day simple moving average of $106.80.

Veradermics (NYSE:MANE) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($1.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.76).

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.