Veradermics

MANE · NYSE

$127.11+$4.83 (+3.95%)TodayMarket closed · Oct 20, 7:52 PM ET

Prev close $122.28

MANE analyst rating

BuyConsensus of 7 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy7
Hold0
Underperform0
Sell0

12-month price target · 8 analysts

Average $166.77 (+31.2% upside)

Low: $136.35
Now: $127.11
High: $191.10

Upgrades and downgrades

The latest rating actions, newest first

MANE analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Cantor Fitzgerald	Oct 19, 2026	Maintains	Overweight	—	39%
Needham	Oct 19, 2026	Maintains	Buy	$164.00 → $172.00	53%
Citigroup	Jul 16, 2026	Maintains	Buy	$135.00 → $160.00	60%
Needham	Jul 15, 2026	Maintains	Buy	$136.00 → $164.00	53%
B. Riley Securities	Jul 15, 2026	Initiates	Buy	$170.00	47%
Jefferies	Jul 7, 2026	Maintains	Buy	$138.00 → $182.00	46%
LifeSci Capital	Jun 16, 2026	Initiates	Outperform	$135.00	100%
Needham	Jun 2, 2026	Initiates	Buy	$136.00	53%
Citigroup	May 18, 2026	Maintains	Buy	$120.00 → $135.00	60%
Leerink Partners	Apr 22, 2026	Maintains	Outperform	$75.00 → $90.00	55%

The case for and against

Updated Oct 16, 2026

Bull case

Veradermics is well positioned because VDPHL01 has already shown differentiated clinical efficacy in pattern hair loss, with 6-month male data in Study 302 producing 30.3 to 33.0 hairs/cm² versus 7.3 for placebo and female Study 207 delivering 22.7 to 23.3 hairs/cm², while onset appeared by month 2. The investment case is strengthened by a clean safety profile with no SAEs or cardiac AEs, a convenient oral extended-release minoxidil mechanism that addresses adherence and tolerability issues, and a large underpenetrated market of more than 80MM U.S. PHL patients, including about 30MM women with few approved options. With pro forma cash of about $835MM expected to fund operations into 2030 and peak sales estimates raised to $2.5B-$3B, the company has both clinical de-risking and financial runway to support multiple upcoming catalysts.

Bear case

Veradermics is a high-risk clinical-stage company whose lead asset, VDPHL01, faces commercialization uncertainty in a crowded, fragmented PHL market that is still dominated by inexpensive generics, OTC therapies, procedures, and low-adherence topical minoxidil. The bull case is further weakened by reliance on third-party manufacturing, potential API tariff exposure, and a cash-pay model that limits pricing power while forcing substantial education and awareness spending to win adoption. Fundamentally, the company also faces meaningful financing pressure as average R&D has been $19.6MM over the last two quarters, SG&A is expected to ramp through 2026/2027, and key female PHL data are still pending in 2H26 and 2027.

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