Veradermics (NYSE:MANE) Price Target Raised to $172.00

Veradermics (NYSE:MANE) had its price objective lifted by Needham & Company LLC from $164.00 to $172.00 in a research report report published on Monday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other brokerages have also recently commented on MANE. B. Riley Financial began coverage on Veradermics in a report on Wednesday, July 15th. They issued a “buy” rating and a $170.00 target price on the stock. Jefferies Financial Group raised their price target on shares of Veradermics from $138.00 to $182.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Citigroup restated a “buy” rating on shares of Veradermics in a research 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, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Veradermics in a research note on Monday. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $154.14.

Veradermics Trading Up 7.8%

NYSE MANE opened at $137.08 on Monday. The business’s 50-day moving average price is $110.08 and its two-hundred day moving average price is $103.91. Veradermics has a 12 month low of $32.00 and a 12 month high of $139.12.

Veradermics (NYSE:MANE) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.58) earnings per share for the quarter, meeting the consensus estimate of ($0.58). As a group, sell-side analysts anticipate that Veradermics will post -2.74 earnings per share for the current year.

Insiders Place Their Bets

In other Veradermics news, Director John Childs sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $107.12, for a total value of $10,712,000.00. Following the transaction, the director directly owned 194,117 shares of the company’s stock, valued at approximately $20,793,813.04. The trade was a 34.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Timothy August Durso sold 43,500 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $107.82, for a total value of $4,690,170.00. Following the completion of the transaction, the insider directly owned 78,142 shares in the company, valued at approximately $8,425,270.44. This trade represents a 35.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 961,000 shares of company stock valued at $103,120,220.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Nvwm LLC boosted its stake in Veradermics by 105.4% during the third quarter. Nvwm LLC now owns 228 shares of the company’s stock worth $28,000 after acquiring an additional 117 shares in the last quarter. Private Capital Advisors Inc. grew its holdings in Veradermics by 158.4% in the third quarter. Private Capital Advisors Inc. now owns 6,291 shares of the company’s stock worth $763,000 after purchasing an additional 3,856 shares during the period. Arizona State Retirement System acquired a new stake in Veradermics in the second quarter worth $524,000. Wellington Management Group LLP bought a new stake in Veradermics in the second quarter valued at $8,425,000. Finally, Seven Fleet Capital Management LP bought a new stake in Veradermics in the second quarter valued at $9,835,000.

Veradermics Company Profile

Veradermics, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for dermatologic conditions. The company’s research and development activities are directed toward treatments for diseases and disorders affecting the skin, hair and nails, with an emphasis on addressing areas where existing treatment options are limited.

Veradermics’ pipeline includes investigational topical therapies designed for conditions such as hair loss and other dermatological disorders.