Leerink Partners Forecasts Strong Price Appreciation for Veradermics (NYSE:MANE) Stock

Key Points

• Leerink Partners raised its price target on Veradermics to $150 from $135 and maintained an “outperform” rating, implying 4.58% upside from the current price. Analysts’ consensus is “Moderate Buy,” with a $172.43 average target.
• Shares rose 3.4% to $143.44 on Monday, near the company’s one-year high of $146.57.
• Company insiders sold 961,000 shares worth about $103.1 million in the last quarter. Veradermics’ latest quarterly loss of $0.58 per share matched analyst expectations.

Veradermics (NYSE:MANE - Get Free Report) had its price objective lifted by stock analysts at Leerink Partners from $135.00 to $150.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Leerink Partners's price objective indicates a potential upside of 4.58% from the stock's current price.

MANE has been the topic of a number of other reports. Weiss Ratings restated a "sell (d+)" rating on shares of Veradermics in a report on Friday, August 21st. Citigroup reissued a "buy" rating on shares of Veradermics in a research report on Tuesday, September 15th. UBS Group set a $204.00 target price on shares of Veradermics in a research note on Thursday, October 22nd. Needham & Company LLC lifted their price target on shares of Veradermics from $164.00 to $172.00 and gave the stock a "buy" rating in a report on Monday, October 19th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Veradermics in a report on Monday, October 19th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $172.43.

Veradermics Trading Up 3.4%

Shares of MANE traded up $4.66 during trading hours on Monday, hitting $143.44. The company had a trading volume of 491,920 shares, compared to its average volume of 641,743. The company has a market capitalization of $5.99 billion and a PE ratio of -75.49. Veradermics has a one year low of $32.00 and a one year high of $146.57. The company's fifty day moving average price is $117.75 and its two-hundred day moving average price is $97.17.

Veradermics (NYSE:MANE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.58) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.58). Analysts forecast that Veradermics will post -2.87 earnings per share for the current year.

Insider Transactions at Veradermics

In other news, insider Timothy August Durso sold 43,500 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $107.82, for a total value of $4,690,170.00. Following the transaction, the insider directly owned 78,142 shares of the company's stock, valued at approximately $8,425,270.44. This represents a 35.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John W. Childs sold 100,000 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $107.12, for a total value of $10,712,000.00. Following the completion of the transaction, the director directly owned 194,117 shares in the company, valued at $20,793,813.04. This represents a 34.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 961,000 shares of company stock valued at $103,120,220 in the last quarter.

Institutional Investors Weigh In On Veradermics

A number of large investors have recently bought and sold shares of MANE. Nvwm LLC raised its position in Veradermics by 105.4% during the 3rd quarter. Nvwm LLC now owns 228 shares of the company's stock worth $28,000 after buying an additional 117 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Veradermics by 8.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,905 shares of the company's stock valued at $231,000 after acquiring an additional 147 shares during the last quarter. Sterling Capital Management LLC increased its stake in shares of Veradermics by 233.2% in the third quarter. Sterling Capital Management LLC now owns 633 shares of the company's stock worth $77,000 after acquiring an additional 443 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of Veradermics by 22.0% in the third quarter. Pictet Asset Management Holding SA now owns 2,491 shares of the company's stock worth $302,000 after acquiring an additional 449 shares during the period. Finally, Private Capital Advisors Inc. raised its holdings in shares of Veradermics by 158.4% during 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 last quarter.

About Veradermics

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.