Veradermics, Incorporated’s Lock-Up Period To End on August 3rd (NYSE:MANE)

Veradermics’ (NYSE:MANE) lock-up period will end on Monday, August 3rd. Veradermics had issued 15,077,647 shares in its initial public offering on February 4th. The total size of the offering was $256,319,999 based on an initial share price of $17.00. After the end of Veradermics’ lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analyst Ratings Changes

Several brokerages recently issued reports on MANE. Jefferies Financial Group upped their target price on shares of Veradermics from $138.00 to $182.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. UBS Group set a $170.00 price target on Veradermics in a research report on Wednesday, July 15th. Leerink Partners lifted their price target on Veradermics from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Needham & Company LLC upped 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. Finally, B. Riley Financial assumed coverage on Veradermics in a research report on Wednesday, July 15th. They set a “buy” rating and a $170.00 price objective on the stock. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Veradermics currently has an average rating of “Moderate Buy” and a consensus price target of $153.00.

Veradermics Stock Performance

MANE stock opened at $110.86 on Wednesday. The company has a market cap of $4.63 billion and a price-to-earnings ratio of -83.98. The firm’s fifty day simple moving average is $107.87. Veradermics has a 52 week low of $32.00 and a 52 week high of $131.24.

Veradermics (NYSE:MANE) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($1.32) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.76).

Veradermics Company Profile

We are a dermatologist-founded, late clinical-stage biopharmaceutical company focused on developing innovative therapeutics to address pervasive treatment challenges in highly prevalent aesthetic and dermatological conditions. Our initial focus is developing better treatments for pattern hair loss, or PHL, a condition affecting approximately 50 million men and 30 million women in the United States. Current PHL treatment options are limited and therefore are consistently plagued with high rates of treatment failure, patient dissatisfaction and treatment discontinuation.