Veradermics (NYSE:MANE) Stock Price Up 5.4% – Should You Buy?

Veradermics, Incorporated (NYSE:MANE)’s share price rose 5.4% on Friday . The company traded as high as $111.77 and last traded at $111.5620. 84,772 shares traded hands during trading, a decline of 85% from the average daily volume of 557,420 shares. The stock had previously closed at $105.83.

Analyst Upgrades and Downgrades

MANE has been the subject of a number of recent research reports. UBS Group set a $170.00 price objective on shares of Veradermics in a report on Wednesday. Lifesci Capital started coverage on Veradermics in a report on Tuesday, June 16th. They set an “outperform” rating and a $135.00 target price on the stock. Jefferies Financial Group boosted their price target on Veradermics from $138.00 to $182.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. B. Riley Financial assumed coverage on Veradermics in a research note on Wednesday. They set a “buy” rating and a $170.00 price target for the company. Finally, Leerink Partners increased their price objective on Veradermics from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Seven equities 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $153.00.

Veradermics Price Performance

The firm has a 50 day simple moving average of $106.91. The stock has a market cap of $4.66 billion and a price-to-earnings ratio of -84.56.

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

Veradermics Company Profile

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.