Veradermics (NYSE:MANE) Sees Unusually-High Trading Volume – Still a Buy?

Veradermics, Incorporated (NYSE:MANE) shares saw unusually-strong trading volume on Wednesday . Approximately 369,525 shares traded hands during mid-day trading, a decline of 38% from the previous session’s volume of 591,639 shares.The stock last traded at $111.4040 and had previously closed at $108.95.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Lifesci Capital began coverage on shares of Veradermics in a research report on Tuesday, June 16th. They issued an “outperform” rating and a $135.00 target price for the company. Weiss Ratings started coverage on shares of Veradermics in a research report on Tuesday, May 26th. They set a “sell (d+)” rating on the stock. UBS Group set a $170.00 price objective on Veradermics in a report on Wednesday, July 15th. Jefferies Financial Group upped their target price on Veradermics from $138.00 to $182.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen upgraded shares of Veradermics from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Seven 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $153.00.

Veradermics Stock Performance

The firm has a market cap of $4.49 billion and a PE ratio of -81.42. The business’s 50 day moving average is $109.05.

Veradermics (NYSE:MANE) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.58) EPS for the quarter, hitting analysts’ consensus estimates of ($0.58). As a group, equities analysts predict that Veradermics, Incorporated will post -2.78 EPS for the current fiscal year.

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.