Veradermics (NYSE:MANE) Sees Large Volume Increase – Time to Buy?

Veradermics, Incorporated (NYSE:MANE) shares saw unusually-strong trading volume on Wednesday . Approximately 369,525 shares traded hands during mid-day trading, a decline of 38% from the previous session’s volume of 591,639 shares.The stock last traded at $111.4040 and had previously closed at $108.95.

Analyst Upgrades and Downgrades

MANE has been the subject of several research reports. UBS Group set a $170.00 price objective on shares of Veradermics in a report on Wednesday, July 15th. Weiss Ratings initiated coverage on shares of Veradermics in a research note on Tuesday, May 26th. They issued a “sell (d+)” rating for the company. Lifesci Capital assumed coverage on Veradermics in a report on Tuesday, June 16th. They set an “outperform” rating and a $135.00 target price for the company. Needham & Company LLC lifted their price target on Veradermics from $136.00 to $164.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Finally, B. Riley Financial assumed coverage on Veradermics in a report on Wednesday, July 15th. They issued a “buy” rating and a $170.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $153.00.

Veradermics Stock Up 2.0%

The stock has a market cap of $4.65 billion and a price-to-earnings ratio of -84.26. The stock’s 50 day moving average price is $109.45.

Veradermics (NYSE:MANE) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.58) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.58). Research analysts forecast that Veradermics, Incorporated will post -2.78 earnings per share for the current fiscal year.

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.