Veradermics' (MANE) "Overweight" Rating Reaffirmed at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald reaffirmed its “Overweight” rating on Veradermics, while analysts overall maintain a “Moderate Buy” consensus with an average price target of $154.14.
• Veradermics shares opened at $109.16, with a $4.56 billion market capitalization, and have traded between $32.00 and $136.71 over the past year.
• Insiders sold 961,000 shares worth approximately $103.1 million during the last quarter, including sizable sales by a director and an insider; meanwhile, several institutional investors initiated or increased positions.

Veradermics (NYSE:MANE - Get Free Report)'s stock had its "overweight" rating restated by equities researchers at Cantor Fitzgerald in a report released on Monday, Benzinga reports.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings restated a "sell (d+)" rating on shares of Veradermics in a research report on Friday, August 21st. Citigroup reiterated a "buy" rating on shares of Veradermics in a research report on Tuesday, September 15th. Needham & Company LLC increased their target price on Veradermics from $136.00 to $164.00 and gave the stock a "buy" rating in a research note on Wednesday, July 15th. Wall Street Zen raised Veradermics from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Finally, UBS Group set a $170.00 price target on Veradermics in a report on Wednesday, July 15th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $154.14.

Veradermics Stock Performance

MANE stock opened at $109.16 on Monday. The stock has a market capitalization of $4.56 billion and a PE ratio of -57.45. The company has a fifty day moving average of $108.88 and a 200-day moving average of $102.50. Veradermics has a one year low of $32.00 and a one year high of $136.71.

Veradermics (NYSE:MANE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.58) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.58). Equities analysts forecast that Veradermics will post -2.74 earnings per share for the current fiscal year.

Insider Activity at Veradermics

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

Institutional Investors Weigh In On Veradermics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nvwm LLC boosted its stake in shares of Veradermics by 105.4% during the 3rd 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 shares of Veradermics by 158.4% in the 3rd quarter. Private Capital Advisors Inc. now owns 6,291 shares of the company's stock worth $763,000 after acquiring an additional 3,856 shares during the period. Arizona State Retirement System acquired a new stake in shares of Veradermics in the 2nd quarter worth approximately $524,000. Wellington Management Group LLP purchased a new position in Veradermics in the 2nd quarter valued at approximately $8,425,000. Finally, Seven Fleet Capital Management LP purchased a new position in Veradermics in the 2nd quarter valued at approximately $9,835,000.

Veradermics Company Profile

Veradermics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for dermatologic diseases. The company's research and development efforts are aimed at addressing conditions that affect the skin, hair and nails, with an emphasis on treatments designed to improve patient outcomes and quality of life.

Veradermics is advancing a pipeline of investigational dermatology products across multiple disease areas. Its activities include the discovery, clinical development and potential commercialization of prescription therapies for conditions with unmet medical needs.

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