Dermira Inc. (DERM) Given “Buy” Rating at Needham & Company LLC
Dermira Inc. (NASDAQ:DERM)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a report issued on Wednesday.
Other research analysts also recently issued reports about the stock. Leerink Swann reiterated a “buy” rating and issued a $47.00 price target (up from $46.00) on shares of Dermira in a research report on Thursday, June 2nd. Zacks Investment Research upgraded shares of Dermira from a “sell” rating to a “hold” rating in a research report on Tuesday, August 2nd. Finally, Wedbush raised their price objective on shares of Dermira from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, June 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $41.00.
Shares of Dermira (NASDAQ:DERM) opened at 35.57 on Wednesday. Dermira has a 52-week low of $17.42 and a 52-week high of $36.16. The firm’s 50-day moving average is $32.35 and its 200 day moving average is $28.45. The stock’s market capitalization is $1.26 billion.
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Dermira (NASDAQ:DERM) last released its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.89) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.86) by $0.03. Equities analysts expect that Dermira will post ($3.39) EPS for the current year.
In other news, insider Luis C. Pena sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $30.01, for a total transaction of $300,100.00. Following the sale, the insider now directly owns 14,653 shares in the company, valued at approximately $439,736.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher M. Griffith sold 1,303 shares of the firm’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $30.02, for a total transaction of $39,116.06. Following the sale, the vice president now owns 44,941 shares in the company, valued at $1,349,128.82. The disclosure for this sale can be found here. Insiders own 17.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in DERM. Schwab Charles Investment Management Inc. increased its stake in shares of Dermira by 30.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 62,986 shares of the biopharmaceutical company’s stock valued at $1,843,000 after buying an additional 14,566 shares during the last quarter. American Century Companies Inc. purchased a new stake in shares of Dermira during the second quarter valued at approximately $1,352,000. Metropolitan Life Insurance Co. NY increased its stake in shares of Dermira by 25.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 15,819 shares of the biopharmaceutical company’s stock valued at $463,000 after buying an additional 3,210 shares during the last quarter. Point72 Asset Management L.P. increased its stake in shares of Dermira by 66.5% in the second quarter. Point72 Asset Management L.P. now owns 127,700 shares of the biopharmaceutical company’s stock valued at $3,735,000 after buying an additional 51,000 shares during the last quarter. Finally, Iguana Healthcare Management LLC increased its stake in shares of Dermira by 172.7% in the second quarter. Iguana Healthcare Management LLC now owns 150,000 shares of the biopharmaceutical company’s stock valued at $4,388,000 after buying an additional 95,000 shares during the last quarter. Hedge funds and other institutional investors own 82.46% of the company’s stock.
Dermira Company Profile
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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