Needham & Company LLC Issues Positive Forecast for Veradermics (NYSE:MANE) Stock Price

Veradermics (NYSE:MANE) had its price target hoisted by Needham & Company LLC from $136.00 to $164.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued research reports about the company. Citigroup lifted their price objective on Veradermics from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, May 18th. UBS Group set a $170.00 price target on Veradermics in a research report on Wednesday. Wall Street Zen cut Veradermics from a “hold” rating to a “sell” rating in a research note on Sunday. Jefferies Financial Group boosted their price objective on Veradermics from $138.00 to $182.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, Lifesci Capital assumed coverage on shares of Veradermics in a report on Tuesday, June 16th. They issued an “outperform” rating and a $135.00 target price on the stock. Seven equities 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 company’s stock. Based on data from MarketBeat.com, Veradermics presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.43.

Veradermics Stock Up 12.7%

NYSE:MANE opened at $124.16 on Wednesday. The company has a market cap of $5.19 billion and a P/E ratio of -94.06. The stock has a 50 day moving average price of $106.84. Veradermics has a 1-year low of $32.00 and a 1-year high of $131.24.

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

Key Stories Impacting Veradermics

Here are the key news stories impacting Veradermics this week:

• Positive Sentiment: The company said its Phase 2 Study “207” showed positive results in female patients, with improvements seen in as little as two months, supporting the potential of its extended-release oral minoxidil as a treatment for female pattern hair loss. Article Title
• Positive Sentiment: Needham raised its price target on Veradermics and reiterated a Buy rating, signaling increased confidence in the stock’s upside after the data release. Article Title
• Neutral Sentiment: Veradermics scheduled an investor conference call to discuss the Phase 2 results, which suggests management wants to provide more detail but does not by itself change the investment thesis. Article Title

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.