Veradermics (NYSE:MANE) Shares Gap Up on Analyst Upgrade

Shares of Veradermics, Incorporated (NYSE:MANE) gapped up prior to trading on Wednesday after Needham & Company LLC raised their price target on the stock from $136.00 to $164.00. The stock had previously closed at $110.17, but opened at $118.75. Needham & Company LLC currently has a buy rating on the stock. Veradermics shares last traded at $125.65, with a volume of 213,074 shares traded.

Other equities analysts also recently issued reports about the company. Leerink Partners raised 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. Lifesci Capital started coverage on Veradermics in a report on Tuesday, June 16th. They issued an “outperform” rating and a $135.00 target price on the stock. Citigroup boosted their price target on Veradermics from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, May 18th. B. Riley Financial assumed coverage on shares of Veradermics in a research report on Wednesday. They set a “buy” rating and a $170.00 price target for the company. Finally, Weiss Ratings began coverage on shares of Veradermics in a report on Tuesday, May 26th. They issued a “sell (d+)” rating on the stock. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Veradermics currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.43.

Key Stories Impacting Veradermics

Here are the key news stories impacting Veradermics this week:

• Positive Sentiment: Veradermics released positive Phase 2 data showing its oral hair-loss drug VDPHL01 improved outcomes in women with pattern hair loss, suggesting broader market potential beyond the male patient group. Article Title
• Positive Sentiment: Needham raised its price target on Veradermics to $164 from $136 and reiterated a buy rating, signaling increased confidence in the company’s clinical and commercial outlook. Article Title
• Neutral Sentiment: The company scheduled an investor conference call to discuss the female study results, which keeps attention focused on the upcoming Phase 2/3 readout rather than changing the investment thesis on its own. Article Title
• Neutral Sentiment: Multiple media reports highlighted the same trial update and the stock’s reaction, reinforcing that the move is being driven by the new efficacy data and analyst optimism. Article Title

Veradermics Price Performance

The stock has a market cap of $4.75 billion and a PE ratio of -86.18. The firm’s 50-day simple moving average is $106.84.

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

About Veradermics

MANE is a global manufacturer and supplier of flavors, fragrances and ingredients for the food, beverage, personal care, household and fine fragrance markets. Headquartered in France, the company develops and produces aromatic solutions that are used by consumer goods companies, food processors, perfumers and formulators seeking sensory impact, taste modulation and olfactory character for their products.

The company’s product portfolio includes savory and sweet flavor systems, beverage concentrates, natural extracts, essential oils, fragrance compounds, cosmetic ingredients and specialty functional solutions such as taste enhancers and odor masking agents.