Veradermics’ (MANE) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Veradermics (NYSE:MANE) in a report released on Monday,Benzinga reports.

A number of other equities research analysts have also recently issued reports on the stock. Needham & Company LLC upped their target price on shares of Veradermics from $136.00 to $164.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Veradermics in a report on Friday, August 21st. Wall Street Zen upgraded Veradermics from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. B. Riley Financial began coverage on Veradermics in a research report on Wednesday, July 15th. They set a “buy” rating and a $170.00 price target on the stock. Finally, Citigroup restated a “buy” rating on shares of Veradermics in a research note on Tuesday, September 15th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $154.14.

Veradermics Stock Performance

Shares of MANE opened at $137.08 on Monday. Veradermics has a 1-year low of $32.00 and a 1-year high of $139.12. The company’s fifty day simple moving average is $110.08 and its 200 day simple moving average is $103.91.

Veradermics (NYSE:MANE) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.58) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.58). Equities analysts forecast that Veradermics will post -2.74 earnings per share for the current fiscal year.

Insider Activity at Veradermics

In other news, insider Timothy August Durso sold 43,500 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $107.82, for a total transaction of $4,690,170.00. Following the completion of the sale, the insider owned 78,142 shares in the company, valued at approximately $8,425,270.44. This trade represents a 35.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John W. Childs sold 100,000 shares of the firm’s 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 sale, the director owned 194,117 shares of the company’s stock, valued at approximately $20,793,813.04. This represents a 34.00% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 961,000 shares of company stock valued at $103,120,220.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Nvwm LLC lifted its position in Veradermics by 105.4% during the third quarter. Nvwm LLC now owns 228 shares of the company’s stock worth $28,000 after acquiring an additional 117 shares during the last quarter. Arizona State Retirement System acquired a new position in shares of Veradermics in the second quarter valued at approximately $524,000. Private Capital Advisors Inc. increased its stake in shares of 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 purchasing an additional 3,856 shares during the period. Wellington Management Group LLP bought a new position in shares of Veradermics during the second quarter worth approximately $8,425,000. Finally, Seven Fleet Capital Management LP acquired a new stake in Veradermics during the 2nd quarter worth approximately $9,835,000.

About Veradermics

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.