Citi raised the firm’s price target on Veradermics (MANE) to $120 from $85 and keeps a Buy rating on the shares after the company announced positive topline results from Part A of its Phase 2/3 trial evaluating VDPHL01 in male pattern hair loss. The data “exceeded our base-case bar across all endpoints” and the safety profile was clean, says the analyst, who is raising the firm’s view of the odds of success to 75% and now models 2035 risk-adjusted peak sales of $3B, up from $2B previously.
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