Veradermics (NYSE:MANE) Sets New 12-Month High – What’s Next?

by · The Markets Daily

Shares of Veradermics, Incorporated (NYSE:MANE – Get Free Report) hit a new 52-week high during trading on Thursday. The stock traded as high as $139.12 and last traded at $137.0790, with a volume of 706,906 shares. The stock had previously closed at $127.11.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MANE shares. UBS Group set a $204.00 target price on Veradermics in a research report on Thursday. Wall Street Zen upgraded Veradermics from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings reissued a “sell (d+)” rating on shares of Veradermics in a report on Friday, August 21st. Citigroup reaffirmed a “buy” rating on shares of Veradermics in a research note on Tuesday, September 15th. Finally, Jefferies Financial Group boosted their price target on Veradermics from $138.00 to $182.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $163.86.

Get Our Latest Stock Analysis on MANE

Veradermics Price Performance

The company has a 50-day moving average price of $111.16 and a two-hundred day moving average price of $104.68.

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

Insider Activity at Veradermics

In other news, Director Montanova Capital, Llc sold 750,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $107.25, for a total transaction of $80,437,500.00. Following the transaction, the director owned 461,033 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Childs sold 100,000 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $107.12, for a total transaction of $10,712,000.00. Following the transaction, the director directly owned 194,117 shares in the company, valued at $20,793,813.04. This trade represents a 34.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 961,000 shares of company stock worth $103,120,220 over the last quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MANE. Sterling Capital Management LLC grew its holdings in shares of Veradermics by 233.2% during the third quarter. Sterling Capital Management LLC now owns 633 shares of the company’s stock valued at $77,000 after buying an additional 443 shares during the last quarter. Nvwm LLC boosted its position in shares of 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 during the last quarter. Private Capital Advisors Inc. grew its holdings in Veradermics by 158.4% during 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 in the last quarter. Arizona State Retirement System purchased a new stake in shares of Veradermics in the second quarter valued at about $524,000. Finally, Seven Fleet Capital Management LP purchased a new position in Veradermics during the second quarter worth about $9,835,000.

Veradermics Company Profile

(Get Free Report)

Veradermics, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for dermatologic conditions. The company’s research and development activities are directed toward treatments for diseases and disorders affecting the skin, hair and nails, with an emphasis on addressing areas where existing treatment options are limited.

Veradermics’ pipeline includes investigational topical therapies designed for conditions such as hair loss and other dermatological disorders.

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