Veradermics (NYSE:MANE) Downgraded by Wall Street Zen to Sell

Key Points

• Wall Street Zen downgraded Veradermics (NYSE:MANE) from hold to sell, despite broader analyst sentiment still leaning positive.
• Other firms remain bullish: multiple analysts have issued buy or outperform ratings, and the consensus view is Moderate Buy with an average target price of $135.60.
• Veradermics shares fell to $119.72 after the downgrade, and the company recently reported quarterly EPS of -$1.32, missing expectations of -$0.56.

Veradermics (NYSE:MANE - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Sunday.

MANE has been the topic of a number of other research reports. Lifesci Capital assumed coverage on shares of Veradermics in a research report on Tuesday, June 16th. They issued an "outperform" rating and a $135.00 price target on the stock. Citigroup increased their price objective on shares of Veradermics from $120.00 to $135.00 and gave the stock a "buy" rating in a research report on Monday, May 18th. Jefferies Financial Group boosted their target price on shares of Veradermics from $138.00 to $182.00 and gave the company a "buy" rating in a report on Tuesday. Leerink Partners upped their price target on shares of Veradermics from $75.00 to $90.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. Finally, Needham & Company LLC started coverage on Veradermics in a report on Tuesday, June 2nd. They set a "buy" rating and a $136.00 price target for the company. Six equities research 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, the company has a consensus rating of "Moderate Buy" and an average target price of $135.60.

Veradermics Stock Performance

Shares of MANE stock traded down $5.19 on Friday, hitting $119.72. The company had a trading volume of 340,095 shares, compared to its average volume of 548,017. Veradermics has a twelve month low of $32.00 and a twelve month high of $131.24. The stock has a market cap of $5.00 billion and a price-to-earnings ratio of -90.70. The company's 50-day moving average price is $106.39.

Veradermics (NYSE:MANE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($1.32) EPS for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.76).

About Veradermics

MANE is a global manufacturer and supplier of flavors, fragrances and ingredients for the food, beverage, personal care, household and fine fragrance markets. Headquartered in France, the company develops and produces aromatic solutions that are used by consumer goods companies, food processors, perfumers and formulators seeking sensory impact, taste modulation and olfactory character for their products.

The company's product portfolio includes savory and sweet flavor systems, beverage concentrates, natural extracts, essential oils, fragrance compounds, cosmetic ingredients and specialty functional solutions such as taste enhancers and odor masking agents.

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