Dermira Inc. (DERM) Trading Down 3.2% on Insider Selling
Dermira Inc. (NASDAQ:DERM)’s share price fell 3.2% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $34.43 and last traded at $34.44, with a volume of 133,543 shares. The stock had previously closed at $35.57.
Specifically, VP Christopher M. Griffith sold 1,303 shares of the firm’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $30.02, for a total value of $39,116.06. Following the sale, the vice president now directly owns 44,941 shares of the company’s stock, valued at $1,349,128.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew Guggenhime sold 15,000 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $35.01, for a total value of $525,150.00. Following the completion of the sale, the chief financial officer now directly owns 20,116 shares in the company, valued at $704,261.16. The disclosure for this sale can be found here. 17.30% of the stock is owned by corporate insiders.
Several research firms recently issued reports on DERM. Needham & Company LLC reissued a “buy” rating on shares of Dermira in a research note on Wednesday. Wedbush lifted their price objective on Dermira from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, June 2nd. Leerink Swann reaffirmed a “buy” rating and set a $47.00 price objective (up from $46.00) on shares of Dermira in a research report on Thursday, June 2nd. Finally, Zacks Investment Research raised Dermira from a “sell” rating to a “hold” rating in a research report on Wednesday, June 22nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Dermira has an average rating of “Buy” and an average target price of $41.00.
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The firm’s 50 day moving average is $32.35 and its 200-day moving average is $28.45. The stock’s market cap is $1.23 billion.
Dermira (NASDAQ:DERM) last announced its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by $0.03. Equities analysts anticipate that Dermira Inc. will post ($3.39) earnings per share for the current year.
Hedge funds have recently made changes to their positions in the stock. AXA acquired a new stake in shares of Dermira during the first quarter valued at about $1,911,000. Teachers Advisors Inc. boosted its stake in shares of Dermira by 1.9% in the first quarter. Teachers Advisors Inc. now owns 123,531 shares of the biopharmaceutical company’s stock valued at $2,555,000 after buying an additional 2,278 shares in the last quarter. Glenmede Trust Co. NA acquired a new stake in shares of Dermira during the second quarter valued at about $170,000. American Century Companies Inc. acquired a new stake in shares of Dermira during the second quarter valued at about $1,352,000. Finally, Sphera Funds Management LTD. acquired a new stake in shares of Dermira during the first quarter valued at about $2,482,000. 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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