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

Key Points

• Analyst consensus is “Moderate Buy”: Seven of nine analysts recommend buying Veradermics, while one rates it a hold and one a sell. The average 12-month price target is $153, compared with the stock’s recent price of $107.16.
• Insiders have been significant sellers: Insiders sold 961,000 shares worth approximately $103.1 million over the past 90 days, including large sales by directors Montanova Capital and John W. Childs.
• Institutional interest remains strong: Several institutions initiated or expanded positions during the second quarter, while Veradermics reported quarterly EPS of negative $0.58, in line with consensus expectations.

Shares of Veradermics, Incorporated (NYSE:MANE - Get Free Report) have been assigned an average rating of "Moderate Buy" from the nine analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $153.00.

A number of equities analysts recently commented on MANE shares. Weiss Ratings reaffirmed 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 report on Tuesday, September 15th. Lifesci Capital started coverage on Veradermics in a research report on Tuesday, June 16th. They issued an "outperform" rating and a $135.00 price target for the company. Jefferies Financial Group lifted their price objective on Veradermics from $138.00 to $182.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Finally, Needham & Company LLC boosted their price objective on Veradermics from $136.00 to $164.00 and gave the company a "buy" rating in a research note on Wednesday, July 15th.

Insider Activity

In other news, Director Montanova Capital, Llc sold 750,000 shares of the stock in a transaction 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 sale, the director directly owned 461,033 shares of the company's stock, valued at $49,445,789.25. This represents a 61.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John W. Childs sold 100,000 shares of the firm's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $107.12, for a total transaction of $10,712,000.00. Following the sale, the director owned 194,117 shares in the company, valued at $20,793,813.04. The trade was 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 worth $103,120,220 over the last ninety days.

Institutional Investors Weigh In On Veradermics

A number of institutional investors have recently bought and sold shares of the business. Montanova Capital LLC purchased a new position in shares of Veradermics in the second quarter valued at about $512,533,000. Bamco Inc. NY grew its position in shares of Veradermics by 284.8% during the second quarter. Bamco Inc. NY now owns 229,581 shares of the company's stock worth $28,225,000 after purchasing an additional 169,913 shares in the last quarter. Seven Fleet Capital Management LP bought a new stake in Veradermics during the 2nd quarter valued at approximately $9,835,000. Wellington Management Group LLP bought a new stake in Veradermics during the 2nd quarter valued at approximately $8,425,000. Finally, Arizona State Retirement System purchased a new position in Veradermics in the 2nd quarter worth approximately $524,000.

Veradermics Trading Up 0.4%

Shares of MANE stock opened at $107.16 on Monday. Veradermics has a 12 month low of $32.00 and a 12 month high of $131.24. The stock has a market cap of $4.48 billion and a P/E ratio of -56.40. The company has a 50 day simple moving average of $106.04 and a two-hundred day simple moving average of $93.97.

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

About Veradermics

Veradermics, Inc is a dermatology-focused biopharmaceutical company developing and commercializing therapies for conditions affecting the skin, hair and nails. The company's research and development activities target common and underserved dermatologic diseases, with an emphasis on treatments that may offer alternatives to existing therapies.

Veradermics is advancing a pipeline of dermatology product candidates across multiple stages of development, including treatments for hair loss and other skin disorders.

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