Dermira’s (DERM) Buy Rating Reiterated at Cantor Fitzgerald
Cantor Fitzgerald reaffirmed their buy rating on shares of Dermira (NASDAQ:DERM) in a report released on Wednesday morning. They currently have a $20.00 price objective on the biopharmaceutical company’s stock.
“. Post DERM’s solid quarter of execution, we reiterate our OW rating and 12-month price target of $20 for DERM shares. We think there is not enough value being attributed to DERM’s two key assets: 1) Qbrexza (glycopyrronium) for hyperhidrosis (excessive sweating) and 2) lebrikizumab for atopic dermatitis. The launch of Qbrexza and pipeline advancements for lebrikizumab should drive upward earnings revisions to levels not yet reflected in sell-side consensus expectations and DERM’s stock higher.”,” the firm’s analyst wrote.
Several other brokerages have also commented on DERM. ValuEngine raised shares of Dermira from a sell rating to a hold rating in a research report on Thursday, November 1st. BidaskClub raised shares of Dermira from a buy rating to a strong-buy rating in a research report on Thursday, October 4th. Zacks Investment Research raised shares of Dermira from a sell rating to a hold rating in a research report on Wednesday, October 10th. Finally, Mizuho reaffirmed a hold rating and issued a $10.00 price objective on shares of Dermira in a research report on Tuesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $22.86.
Dermira (NASDAQ:DERM) last announced its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported ($1.58) EPS for the quarter, topping the consensus estimate of ($1.63) by $0.05. The business had revenue of $0.72 million for the quarter, compared to analyst estimates of $0.80 million. Dermira had a negative net margin of 496.49% and a negative return on equity of 157.42%. Analysts forecast that Dermira will post -5.46 earnings per share for the current year.
In other news, Director Matthew K. Fust sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, October 19th. The shares were sold at an average price of $13.75, for a total value of $55,000.00. Following the sale, the director now owns 14,051 shares of the company’s stock, valued at $193,201.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 14.80% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fosun International Ltd bought a new stake in shares of Dermira in the third quarter valued at approximately $3,805,000. Teachers Retirement System of The State of Kentucky increased its holdings in Dermira by 25.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 42,915 shares of the biopharmaceutical company’s stock worth $468,000 after acquiring an additional 8,640 shares during the period. SG Americas Securities LLC bought a new stake in Dermira during the 3rd quarter worth approximately $946,000. First Midwest Bank Trust Division increased its holdings in Dermira by 3.0% during the 3rd quarter. First Midwest Bank Trust Division now owns 338,060 shares of the biopharmaceutical company’s stock worth $3,685,000 after acquiring an additional 9,890 shares during the period. Finally, Orbimed Advisors LLC bought a new stake in Dermira during the 2nd quarter worth approximately $9,491,000. 80.97% of the stock is currently owned by institutional investors.
Dermira, Inc, a biopharmaceutical company, identifies, develops, and commercializes therapies to treat dermatologic diseases. The company's product candidates include Glycopyrronium tosylate, a novel form of an anticholinergic agent that has completed Phase III clinical trial for the treatment of primary axillary hyperhidrosis; Olumacostat glasaretil, a novel small molecule designed to target sebum production, which is in Phase III clinical trial for the treatment of acne vulgaris; and lebrikizumab, a novel humanized monoclonal antibody targeting interleukin 13 that is in Phase 2b development for the treatment of moderate-to-severe atopic dermatitis.
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