Dermira Inc. (DERM) Stock Price Down 2.2% After Insider Selling
Dermira Inc. (NASDAQ:DERM)’s share price fell 2.2% during trading on Friday following insider selling activity. The stock traded as low as $32.41 and last traded at $32.62, with a volume of 67,519 shares changing hands. The stock had previously closed at $33.36.
Specifically, VP Christopher M. Griffith sold 1,303 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $31.75, for a total transaction of $41,370.25. Following the completion of the sale, the vice president now directly owns 44,941 shares of the company’s stock, valued at $1,426,876.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Andrew Guggenhime sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $31.02, for a total transaction of $310,200.00. Following the sale, the chief financial officer now directly owns 14,375 shares of the company’s stock, valued at $445,912.50. The disclosure for this sale can be found here. 17.30% of the stock is currently owned by insiders.
Several analysts recently commented on DERM shares. Needham & Company LLC reissued a “positive” rating and set a $46.00 target price on shares of Dermira in a research note on Monday, October 3rd. Leerink Swann reissued a “buy” rating on shares of Dermira in a research note on Wednesday, October 5th. Finally, Zacks Investment Research raised shares of Dermira from a “sell” rating to a “hold” rating in a research note on Wednesday, June 22nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Dermira currently has an average rating of “Buy” and an average target price of $41.00.
The stock’s market capitalization is $1.15 billion. The company’s 50 day moving average is $33.49 and its 200 day moving average is $30.02.
Dermira (NASDAQ:DERM) last issued its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.86) by $0.03. Analysts forecast that Dermira Inc. will post ($3.46) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of DERM. JPMorgan Chase & Co. boosted its position in shares of Dermira by 6,034.5% in the second quarter. JPMorgan Chase & Co. now owns 3,558 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 3,500 shares in the last quarter. Glenmede Trust Co. NA purchased a new position in shares of Dermira during the second quarter worth about $170,000. A.R.T. Advisors LLC purchased a new position in shares of Dermira during the second quarter worth about $207,000. DIAM Co. Ltd. purchased a new position in shares of Dermira during the second quarter worth about $231,000. Finally, Prudential Financial Inc. purchased a new position in shares of Dermira during the second quarter worth about $253,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.
Dermira, Inc is a biopharmaceutical company. The Company is focused on identifying, developing and commercializing differentiated therapies for dermatologic diseases. The Company’s portfolio includes three late-stage product candidates that target unmet needs and market opportunities, such as Cimzia (certolizumab pegol), DRM04 and DRM01.
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