Veradermics (NYSE:MANE) Sees Unusually-High Trading Volume – Time to Buy?

Veradermics, Incorporated (NYSE:MANE) shares saw an uptick in trading volume on Wednesday . Approximately 369,525 shares traded hands during trading, a decline of 38% from the previous session’s volume of 591,639 shares.The stock last traded at $111.4040 and had previously closed at $108.95.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Citigroup raised their target price on Veradermics from $135.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Lifesci Capital assumed coverage on shares of Veradermics in a research report on Tuesday, June 16th. They set an “outperform” rating and a $135.00 target price on the stock. Needham & Company LLC increased their price target on shares of Veradermics from $136.00 to $164.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Weiss Ratings started coverage on Veradermics in a report on Tuesday, May 26th. They set a “sell (d+)” rating on the stock. Finally, Leerink Partners raised their target price on Veradermics from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Seven 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 presently has an average rating of “Moderate Buy” and an average price target of $153.00.

Veradermics Price Performance

The firm has a market capitalization of $4.49 billion and a price-to-earnings ratio of -81.42. The firm has a fifty day moving average of $109.05.

Veradermics (NYSE:MANE) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.58) EPS for the quarter, meeting the consensus estimate of ($0.58). As a group, equities analysts anticipate that Veradermics, Incorporated will post -2.78 EPS 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.