Veradermics (NYSE:MANE) Hits New 52-Week High – Time to Buy?

Veradermics, Incorporated (NYSE:MANE) shares hit a new 52-week high on Friday. The stock traded as high as $136.72 and last traded at $126.6480, with a volume of 3,489,915 shares. The stock had previously closed at $110.95.

Analysts Set New Price Targets

MANE has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Veradermics in a research report on Friday, August 21st. Jefferies Financial Group lifted their price target on shares of Veradermics from $138.00 to $182.00 and gave the company a “buy” rating in a research note 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. Needham & Company LLC increased their price objective on shares of Veradermics from $136.00 to $164.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Finally, Citigroup reaffirmed a “buy” rating on shares of Veradermics in a research report on Tuesday, September 15th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $153.00.

Veradermics Stock Performance

The firm has a fifty day moving average price of $108.18 and a 200 day moving average price of $100.45. The company has a market cap of $5.46 billion and a price-to-earnings ratio of -68.83.

Veradermics (NYSE:MANE) last issued its 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, analysts expect that Veradermics, Incorporated will post -2.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director John W. Childs sold 100,000 shares of Veradermics stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 194,117 shares in the company, valued at approximately $20,793,813.04. The trade was a 34.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Montanova Capital, Llc sold 750,000 shares of the business’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 transaction, the director directly owned 461,033 shares in the company, valued at $49,445,789.25. The trade was a 61.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 961,000 shares of company stock worth $103,120,220.

Institutional Investors Weigh In On Veradermics

Hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System bought a new position in Veradermics during the second quarter worth $524,000. Private Capital Advisors Inc. raised its position in shares of 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 purchasing an additional 3,856 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Veradermics during the 2nd quarter worth about $8,425,000. Seven Fleet Capital Management LP acquired a new stake in shares of Veradermics during the 2nd quarter worth about $9,835,000. Finally, Bamco Inc. NY boosted its holdings in shares of Veradermics by 284.8% during the 2nd quarter. Bamco Inc. NY now owns 229,581 shares of the company’s stock worth $28,225,000 after buying an additional 169,913 shares during the period.

Veradermics Company Profile

Veradermics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for dermatologic diseases. The company’s research and development efforts are aimed at addressing conditions that affect the skin, hair and nails, with an emphasis on treatments designed to improve patient outcomes and quality of life.

Veradermics is advancing a pipeline of investigational dermatology products across multiple disease areas. Its activities include the discovery, clinical development and potential commercialization of prescription therapies for conditions with unmet medical needs.