Veradermics, Incorporated’s (NYSE:MANE) Lock-Up Period Will Expire Tomorrow

Veradermics’ (NYSE:MANE) lock-up period will end on Monday, August 3rd. Veradermics had issued 15,077,647 shares in its public offering on February 4th. The total size of the offering was $256,319,999 based on an initial share price of $17.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.

Analyst Ratings Changes

MANE has been the topic of a number of research reports. Weiss Ratings initiated coverage on Veradermics in a report on Tuesday, May 26th. They issued a “sell (d+)” rating on the stock. UBS Group set a $170.00 target price on Veradermics in a report on Wednesday, July 15th. Lifesci Capital started coverage on Veradermics in a research report on Tuesday, June 16th. They issued an “outperform” rating and a $135.00 target price on the stock. Leerink Partners increased their price target on shares of Veradermics from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Finally, Needham & Company LLC raised 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. 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 company’s stock. According to data from MarketBeat, Veradermics currently has an average rating of “Moderate Buy” and a consensus price target of $153.00.

Veradermics Stock Up 0.4%

NYSE MANE opened at $105.05 on Friday. The firm has a market capitalization of $4.39 billion and a P/E ratio of -79.58. The firm’s fifty day simple moving average is $108.02. Veradermics has a 1 year low of $32.00 and a 1 year high of $131.24.

Veradermics (NYSE:MANE) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($1.32) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.76).

Veradermics Company Profile

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.