Veradermics, Incorporated (NYSE:MANE) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Veradermics, with seven buys, one hold and one sell among nine analysts. The average 12-month price target is $153, versus the stock’s reported opening price of $102.91.
• Veradermics reported quarterly EPS of -$0.58, in line with estimates, while analysts expect a full-year loss of approximately $2.74 per share. The company’s shares have traded between $32.00 and $131.24 over the past year.
• Insiders sold heavily, including directors selling 961,000 shares worth about $103.1 million over 90 days. At the same time, several institutional investors established or expanded positions during the second quarter.

Veradermics, Incorporated (NYSE:MANE - Get Free Report) has received a consensus rating of "Moderate Buy" from the nine brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $153.00.

Several equities analysts have recently commented on the company. UBS Group set a $170.00 price target on Veradermics in a research note on Wednesday, July 15th. Wall Street Zen upgraded shares of Veradermics from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Weiss Ratings reissued a "sell (d+)" rating on shares of Veradermics in a research report on Friday, August 21st. Citigroup boosted their price target on shares of Veradermics from $135.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, July 16th. Finally, B. Riley Financial started coverage on shares of Veradermics in a research report on Wednesday, July 15th. They issued a "buy" rating and a $170.00 price target for the company.

Veradermics Stock Up 0.5%

Shares of NYSE MANE opened at $102.91 on Thursday. Veradermics has a 52-week low of $32.00 and a 52-week high of $131.24. The stock has a market capitalization of $4.30 billion and a price-to-earnings ratio of -54.16. The company has a 50 day moving average price of $111.71.

Veradermics (NYSE:MANE - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.58) EPS for the quarter, hitting the consensus estimate of ($0.58). Equities research analysts anticipate that Veradermics will post -2.74 earnings per share for the current year.

Insider Buying and Selling at Veradermics

In related news, Director Montanova Capital, Llc sold 750,000 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $107.25, for a total value of $80,437,500.00. Following the completion of the transaction, the director owned 461,033 shares of the company's stock, valued at $49,445,789.25. The trade was a 61.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John W. Childs sold 100,000 shares of the company's stock in a transaction 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 sale, the director owned 194,117 shares of the company's stock, valued at approximately $20,793,813.04. This represents a 34.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 961,000 shares of company stock worth $103,120,220.

Institutional Investors Weigh In On Veradermics

Institutional investors have recently added to or reduced their stakes in the stock. Bamco Inc. NY grew its stake in Veradermics by 284.8% in the second quarter. Bamco Inc. NY now owns 229,581 shares of the company's stock valued at $28,225,000 after purchasing an additional 169,913 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Veradermics during the second quarter valued at about $8,425,000. Montanova Capital LLC purchased a new stake in shares of Veradermics during the second quarter valued at about $512,533,000. Seven Fleet Capital Management LP bought a new stake in shares of Veradermics in the 2nd quarter valued at about $9,835,000. Finally, California State Teachers Retirement System bought a new stake in shares of Veradermics in the 2nd quarter valued at about $385,292,000.

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.

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