Buy Rating Reiterated as Strong VDPHL01 Data De-Risk Program and Drive Price Target Increase to $120

Geoff Meacham, an analyst from Citi, maintained the Buy rating on Veradermics, Incorporated. The associated price target was raised to $120.00.

Geoff Meacham has given his Buy rating due to a combination of factors, primarily the strong Phase 2/3 results for VDPHL01 that showed best-in-class efficacy with a notably clean cardiac safety profile even in a largely hypertensive population. He views the limited adverse events and absence of serious cardiac issues as a major de-risking milestone for the program, supporting a substantial increase in modeled probability of success and raising the price target to $120.

Geoff Meacham’s rating is based on the significantly expanded commercial opportunity, with risk-adjusted peak sales now projected at $3.0B and further upside from female pattern hair loss and ex-U.S. markets that are not yet fully included in his forecasts. He also highlights strong validation from key opinion leaders, compelling pricing benchmarks, and a robust catalyst path including additional Phase 3 and extension data, all of which underpin his expectation of substantial share price appreciation and justify maintaining a Buy/High Risk stance.