Dermira Inc. (DERM) Stock Rating Upgraded by Zacks Investment Research
Dermira Inc. (NASDAQ:DERM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “Dermira, Inc. is a specialty biopharmaceutical company. It is focused on bringing medical dermatology products to dermatologists and their patients. The Company markets topical small molecule therapeutics that target acne, sebaceous gland hyperactivity, and inflammatory skin diseases. Its late-stage product candidates comprise Cimzia which has completed Phase II clinical trials for the treatment of moderate-to-severe plaque psoriasis; DRM04 that is in a Phase IIb clinical trial for the treatment of hyperhidrosis or excessive sweating; and DRM01 which has completed a Phase IIa clinical trial for the treatment of acne. Dermira, Inc. is headquartered in Redwood City, California. “
A number of other brokerages have also weighed in on DERM. Leerink Swann reissued a “buy” rating on shares of Dermira in a research report on Wednesday, October 5th. Needham & Company LLC reaffirmed a “positive” rating and set a $46.00 price target on shares of Dermira in a research report on Monday, October 3rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Dermira presently has an average rating of “Buy” and an average target price of $41.00.
Shares of Dermira (NASDAQ:DERM) remained flat at $33.64 on Thursday. 64,869 shares of the stock traded hands. The company’s 50-day moving average is $32.97 and its 200-day moving average is $31.77. Dermira has a 12 month low of $17.42 and a 12 month high of $36.34. The firm’s market cap is $1.20 billion.
Dermira (NASDAQ:DERM) last announced its quarterly earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.72). On average, equities analysts expect that Dermira will post ($3.32) earnings per share for the current year.
In related news, CEO Thomas G. Wiggans sold 11,000 shares of the stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $31.63, for a total value of $347,930.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew Guggenhime sold 4,100 shares of the stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $35.02, for a total transaction of $143,582.00. Following the completion of the sale, the chief financial officer now directly owns 9,216 shares of the company’s stock, valued at $322,744.32. The disclosure for this sale can be found here. 17.30% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in DERM. Credit Suisse AG raised its stake in Dermira by 16.2% in the third quarter. Credit Suisse AG now owns 21,219 shares of the biopharmaceutical company’s stock valued at $718,000 after buying an additional 2,964 shares in the last quarter. Baker BROS. Advisors LP acquired a new position in Dermira during the third quarter valued at $11,040,000. Highbridge Capital Management LLC acquired a new position in Dermira during the third quarter valued at $236,000. Platinum Investment Management Ltd. acquired a new position in Dermira during the third quarter valued at $987,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Dermira during the third quarter valued at $560,000. 83.64% of the stock is owned by institutional investors.
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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