Veradermics (NYSE:MANE) Trading 5.4% Higher – Here’s Why

Veradermics, Incorporated (NYSE:MANE)’s share price shot up 5.4% during mid-day trading on Friday . The stock traded as high as $111.77 and last traded at $111.5620. Approximately 84,772 shares were traded during mid-day trading, a decline of 85% from the average session volume of 557,420 shares. The stock had previously closed at $105.83.

Analyst Upgrades and Downgrades

MANE has been the subject of a number of recent research reports. Citigroup increased their price objective on Veradermics from $135.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday. Leerink Partners lifted their target price on Veradermics from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Wall Street Zen lowered Veradermics from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Needham & Company LLC upped their target price on Veradermics from $136.00 to $164.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Weiss Ratings began coverage on Veradermics in a research report on Tuesday, May 26th. They issued a “sell (d+)” rating for the company. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $153.00.

Veradermics Stock Up 9.1%

The company has a 50-day moving average of $106.80. The stock has a market capitalization of $4.82 billion and a price-to-earnings ratio of -86.57.

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

About Veradermics

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.