Veradermics, Incorporated’s Lock-Up Period Set To End on August 3rd (NYSE:MANE)

Veradermics’ (NYSE:MANE) lock-up period will end on Monday, August 3rd. Veradermics had issued 15,077,647 shares in its initial public offering on February 4th. The total size of the offering was $256,319,999 based on an initial share price of $17.00. After the end of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Wall Street Analyst Weigh In

A number of analysts have commented on MANE shares. Wall Street Zen lowered shares of Veradermics from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Lifesci Capital initiated coverage on shares of Veradermics in a research report on Tuesday, June 16th. They issued an “outperform” rating and a $135.00 target price on the stock. UBS Group set a $170.00 price target on shares of Veradermics in a report on Wednesday, July 15th. Needham & Company LLC upped their price target on shares of Veradermics from $136.00 to $164.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Finally, Jefferies Financial Group raised their price objective on shares of Veradermics from $138.00 to $182.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $153.00.

Veradermics Stock Up 0.3%

Shares of MANE stock opened at $109.82 on Monday. The stock has a market capitalization of $4.59 billion and a P/E ratio of -83.20. Veradermics has a 1-year low of $32.00 and a 1-year high of $131.24. The company’s fifty day simple moving average is $107.44.

Veradermics (NYSE:MANE) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($1.32) earnings per share (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.