Veradermics (NYSE:MANE) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Veradermics (NYSE:MANE) in a research report sent to investors on Monday,Benzinga reports.

A number of other research firms also recently issued reports on MANE. Weiss Ratings reiterated a “sell (d+)” rating on shares of Veradermics in a report on Friday, August 21st. UBS Group set a $170.00 target price on shares of Veradermics in a report on Wednesday, July 15th. Jefferies Financial Group increased their target price on shares of Veradermics from $138.00 to $182.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Wall Street Zen raised shares of Veradermics from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Needham & Company LLC lifted their price target on shares of Veradermics from $136.00 to $164.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $154.14.

Veradermics Stock Performance

NYSE MANE opened at $121.95 on Monday. The stock has a market capitalization of $5.10 billion and a price-to-earnings ratio of -64.18. The stock’s 50 day moving average price is $109.10 and its two-hundred day moving average price is $102.91. Veradermics has a 52 week low of $32.00 and a 52 week high of $136.71.

Veradermics (NYSE:MANE) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.58) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.58). On average, equities research analysts forecast that Veradermics will post -2.74 EPS for the current year.

Insider Buying and Selling

In other Veradermics news, Director Montanova Capital, Llc sold 750,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $107.25, for a total value of $80,437,500.00. Following the completion of the transaction, the director directly owned 461,033 shares in the company, valued at $49,445,789.25. This trade represents a 61.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Reid Alexander Waldman sold 67,500 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was 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 in the company, valued at approximately $18,425,076.64. This 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. Over the last three months, insiders sold 961,000 shares of company stock valued at $103,120,220.

Institutional Investors Weigh In On Veradermics

Several large investors have recently made changes to their positions in the stock. Montanova Capital LLC acquired a new position in Veradermics during the second quarter worth $512,533,000. Bamco Inc. NY raised its position in Veradermics by 284.8% during the second quarter. Bamco Inc. NY now owns 229,581 shares of the company’s stock worth $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 second quarter worth $9,835,000. Wellington Management Group LLP acquired a new stake in Veradermics in the second quarter valued at $8,425,000. Finally, Private Capital Advisors Inc. lifted its stake in Veradermics by 158.4% in the third quarter. Private Capital Advisors Inc. now owns 6,291 shares of the company’s stock valued at $763,000 after acquiring an additional 3,856 shares during the last quarter.

More Veradermics News

Here are the key news stories impacting Veradermics this week:

• Positive Sentiment: VDPHL01 achieved the study’s Phase 3 goals, demonstrating early, consistent, and robust hair growth in men with mild-to-moderate pattern hair loss. The results were described as potentially transformative for treatment. Veradermics Soars 10% as Phase 3 Data Show Oral Hair-Loss Pill Could Transform Treatment
• Positive Sentiment: The late-stage trial win reduces a major development risk for Veradermics and supports the potential for VDPHL01 to compete in the large hair-loss treatment market. Veradermics Scores Another Late-Stage Trial Win for Hair Loss Therapy
• Positive Sentiment: Analyst sentiment also improved: Needham raised its price target from $164 to $172 and maintained a Buy rating, while Cantor Fitzgerald reaffirmed its Overweight rating. Veradermics Earns Overweight Rating from Cantor Fitzgerald
• Neutral Sentiment: The company reviewed the Part A results during an investor conference call. The announcement contains topline findings; investors will still look for complete clinical, safety, regulatory, and commercialization details before assigning final approval and revenue expectations. Veradermics to Hold Conference Call to Discuss Phase 3 Results

Veradermics Company Profile

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.