First Trust Advisors LP Takes $1.17 Million Position in Dermira, Inc. (DERM)
First Trust Advisors LP bought a new stake in shares of Dermira, Inc. (NASDAQ:DERM) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 40,281 shares of the biopharmaceutical company’s stock, valued at approximately $1,174,000. First Trust Advisors LP owned approximately 0.10% of Dermira as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Legal & General Group Plc raised its position in Dermira by 16.3% during the 1st quarter. Legal & General Group Plc now owns 6,861 shares of the biopharmaceutical company’s stock valued at $236,000 after purchasing an additional 963 shares in the last quarter. Granite Point Capital Management L.P. raised its position in Dermira by 3.1% during the 1st quarter. Granite Point Capital Management L.P. now owns 38,150 shares of the biopharmaceutical company’s stock valued at $1,301,000 after purchasing an additional 1,150 shares in the last quarter. Alliancebernstein L.P. raised its position in Dermira by 4.5% during the 1st quarter. Alliancebernstein L.P. now owns 41,600 shares of the biopharmaceutical company’s stock valued at $1,419,000 after purchasing an additional 1,800 shares in the last quarter. Nationwide Fund Advisors raised its position in Dermira by 6.5% during the 1st quarter. Nationwide Fund Advisors now owns 30,609 shares of the biopharmaceutical company’s stock valued at $1,044,000 after purchasing an additional 1,867 shares in the last quarter. Finally, American International Group Inc. raised its position in Dermira by 23.4% during the 1st quarter. American International Group Inc. now owns 14,900 shares of the biopharmaceutical company’s stock valued at $508,000 after purchasing an additional 2,829 shares in the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on DERM shares. Zacks Investment Research lowered Dermira from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Mizuho reaffirmed a “buy” rating and set a $43.00 target price (up from $40.00) on shares of Dermira in a research report on Thursday, September 7th. BidaskClub lowered Dermira from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $46.00 target price on shares of Dermira in a research report on Tuesday, July 18th. Finally, Cantor Fitzgerald started coverage on Dermira in a research report on Thursday, June 22nd. They set an “overweight” rating and a $45.00 target price for the company. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $44.40.
In related news, insider Eugene A. Bauer sold 2,500 shares of Dermira stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $30.00, for a total value of $75,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Fred B. Craves bought 30,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average price of $23.03 per share, with a total value of $690,900.00. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 9,200 shares of company stock valued at $262,512. 13.30% of the stock is currently owned by company insiders.
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Shares of Dermira, Inc. (NASDAQ DERM) opened at 27.52 on Tuesday. The firm’s 50-day moving average price is $24.55 and its 200-day moving average price is $29.49. Dermira, Inc. has a 12 month low of $21.35 and a 12 month high of $38.75. The company’s market capitalization is $1.14 billion.
Dermira (NASDAQ:DERM) last released its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.93) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.89) by ($0.04). The company had revenue of $1.07 million during the quarter, compared to analysts’ expectations of $1.00 million. Dermira had a negative net margin of 408.50% and a negative return on equity of 31.66%. Equities research analysts expect that Dermira, Inc. will post ($4.20) EPS for the current year.
Dermira Company Profile
Dermira, Inc is a biopharmaceutical company. The Company is focused on the development of therapeutic solutions in medical dermatology to treat skin conditions, such as hyperhidrosis, psoriasis and acne. Its portfolio includes three late-stage product candidates: Cimzia (certolizumab pegol), glycopyrronium tosylate and olumacostat glasaretil.
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