Veradermics, Incorporated (NYSE:MANE) Stock Has Consensus Target Price of $172.43

Key Points

• Analysts give Veradermics a “Moderate Buy” consensus: Seven of nine covering brokerages rate the stock a buy, and the average 12-month price target is $172.43. B. Riley raised its target to $204, while Leerink Partners lifted its target to $150.
• Shares opened at $143.44, near the reported 52-week high of $146.57. The company reported quarterly EPS of -$0.58, in line with analyst expectations.
• Insiders sold 961,000 shares worth about $103.1 million over 90 days; the CEO’s and a director’s disclosed sales were made under pre-arranged plans. Several institutional investors also established or increased positions.

Shares of Veradermics, Incorporated (NYSE:MANE - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the nine brokerages that are covering the stock, MarketBeat 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 twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $172.43.

A number of analysts have recently weighed in on the company. B. Riley Financial increased their price target on Veradermics from $170.00 to $204.00 and gave the stock a "buy" rating in a research report on Thursday, October 22nd. UBS Group set a $204.00 price objective on Veradermics in a research report on Thursday, October 22nd. Citigroup restated a "buy" rating on shares of Veradermics in a research note on Tuesday, September 15th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Veradermics in a research report on Friday, August 21st. Finally, Leerink Partners raised their target price on Veradermics from $135.00 to $150.00 and gave the company an "outperform" rating in a research note on Monday.

Veradermics Trading Up 3.4%

Shares of MANE opened at $143.44 on Tuesday. The firm has a market cap of $5.99 billion and a price-to-earnings ratio of -75.49. The stock has a 50 day moving average of $118.66 and a 200-day moving average of $97.43. Veradermics has a 52 week low of $32.00 and a 52 week high of $146.57.

Veradermics (NYSE:MANE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.58) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.58). On average, sell-side analysts predict that Veradermics will post -2.87 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Reid Alexander Waldman sold 67,500 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $107.86, for a total value of $7,280,550.00. Following the sale, the chief executive officer owned 170,824 shares of the company's stock, valued at $18,425,076.64. This trade represents a 28.32% decrease in their position. The transaction was disclosed in a legal filing 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 Childs sold 100,000 shares of Veradermics stock in a transaction dated 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 completion of the sale, the director owned 194,117 shares in the company, valued at approximately $20,793,813.04. This represents a 34.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 961,000 shares of company stock worth $103,120,220 over the last ninety days.

Institutional Investors Weigh In On Veradermics

A number of hedge funds have recently made changes to their positions in MANE. Montanova Capital LLC bought a new position in Veradermics in the 2nd quarter worth approximately $512,533,000. Bamco Inc. NY raised its stake in Veradermics by 284.8% during the 2nd quarter. Bamco Inc. NY now owns 229,581 shares of the company's stock valued at $28,225,000 after acquiring 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 $9,835,000. Wellington Management Group LLP acquired a new position in Veradermics during the 2nd quarter worth $8,425,000. Finally, Alps Advisors Inc. boosted its position in Veradermics by 31.2% during the 3rd quarter. Alps Advisors Inc. now owns 55,356 shares of the company's stock worth $6,711,000 after acquiring an additional 13,150 shares during the period.

About Veradermics

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