Veradermics, Incorporated (NYSE:MANE) Stock Has Consensus Price Target of $153.00 According to Brokerages

Key Points

• Analysts remain broadly positive: Veradermics has a “Moderate Buy” consensus from nine firms, with seven buy ratings, one hold, and one sell. The average 12-month price target is $153, above the reported share price of $114.78.
• Insiders sold heavily: Company insiders sold 961,000 shares worth approximately $103.1 million over the past 90 days, including substantial sales by a director and the CEO.
• Veradermics remains loss-making: The clinical-stage dermatology company met quarterly expectations with a loss of $0.58 per share, while analysts forecast a full-year loss of $2.74 per share.

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

A number of equities research analysts have issued reports on MANE shares. Citigroup reissued a "buy" rating on shares of Veradermics in a research note on Tuesday, September 15th. B. Riley Financial started coverage on shares of Veradermics in a research note on Wednesday, July 15th. They issued a "buy" rating and a $170.00 price target on the stock. Needham & Company LLC increased their price objective on Veradermics from $136.00 to $164.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. Jefferies Financial Group increased their price objective on Veradermics from $138.00 to $182.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Finally, Wall Street Zen raised Veradermics from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st.

Insider Buying and Selling at Veradermics

In other Veradermics news, Director John W. Childs sold 100,000 shares of the business's stock in a transaction that occurred on 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 directly owned 194,117 shares of the company's stock, valued at $20,793,813.04. The trade was a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Reid Alexander Waldman sold 67,500 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $107.86, for a total transaction of $7,280,550.00. Following the transaction, the chief executive officer owned 170,824 shares in the company, valued at approximately $18,425,076.64. This trade represents a 28.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 961,000 shares of company stock worth $103,120,220 in the last ninety days.

Institutional Investors Weigh In On Veradermics

Several institutional investors and hedge funds have recently modified their holdings of MANE. Nvwm LLC raised its holdings in Veradermics by 105.4% during the third quarter. Nvwm LLC now owns 228 shares of the company's stock valued at $28,000 after buying an additional 117 shares in the last quarter. Private Capital Advisors Inc. lifted its position in shares of 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 buying an additional 3,856 shares during the last quarter. Arizona State Retirement System bought a new stake in shares of Veradermics during the 2nd quarter worth about $524,000. Seven Fleet Capital Management LP bought a new stake in shares of Veradermics during the 2nd quarter worth about $9,835,000. Finally, Montanova Capital LLC bought a new stake in shares of Veradermics during the 2nd quarter worth about $512,533,000.

Veradermics Stock Performance

MANE stock opened at $114.78 on Friday. The stock has a market cap of $4.80 billion and a P/E ratio of -60.41. The firm has a 50 day simple moving average of $108.96 and a 200 day simple moving average of $102.15. Veradermics has a 52 week low of $32.00 and a 52 week high of $136.71.

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

About Veradermics

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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