Dermira Inc (NASDAQ:DERM) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 3,553,868 shares, an increase of 66.8% from the April 28th total of 2,130,184 shares. Currently, 12.4% of the shares of the company are sold short. Based on an average trading volume of 906,401 shares, the days-to-cover ratio is presently 3.9 days.

In other Dermira news, CEO Thomas G. Wiggans sold 8,000 shares of the stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $33.49, for a total transaction of $267,920.00. Following the completion of the transaction, the chief executive officer now directly owns 14,468 shares of the company’s stock, valued at approximately $484,533.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Christopher M. Griffith sold 1,312 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $27.07, for a total value of $35,515.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,918 shares of company stock worth $965,683. 17.30% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in DERM. Point72 Asset Management L.P. bought a new position in shares of Dermira during the first quarter worth $2,346,000. Platinum Investment Management Ltd. raised its position in shares of Dermira by 53.4% in the first quarter. Platinum Investment Management Ltd. now owns 44,800 shares of the biopharmaceutical company’s stock worth $1,528,000 after buying an additional 15,600 shares during the last quarter. Clough Capital Partners L P raised its position in shares of Dermira by 10.5% in the first quarter. Clough Capital Partners L P now owns 254,785 shares of the biopharmaceutical company’s stock worth $8,691,000 after buying an additional 24,200 shares during the last quarter. Tudor Investment Corp ET AL bought a new position in shares of Dermira during the first quarter worth $1,364,000. Finally, Endurant Capital Management LP raised its position in shares of Dermira by 24.3% in the first quarter. Endurant Capital Management LP now owns 31,188 shares of the biopharmaceutical company’s stock worth $1,064,000 after buying an additional 6,100 shares during the last quarter. 84.92% of the stock is owned by institutional investors.

Shares of Dermira (NASDAQ:DERM) opened at 27.36 on Friday. The stock has a 50 day moving average price of $31.11 and a 200 day moving average price of $31.92. The firm’s market cap is $1.14 billion. Dermira has a 12 month low of $25.63 and a 12 month high of $38.75.

Dermira (NASDAQ:DERM) last announced its quarterly earnings results on Tuesday, February 28th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.93) by $0.72. The firm had revenue of $22.47 million during the quarter. On average, equities research analysts expect that Dermira will post ($3.97) EPS for the current year.

A number of equities analysts have issued reports on the company. Mizuho decreased their price target on Dermira from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday. Guggenheim reaffirmed a “positive” rating and set a $40.00 price target on shares of Dermira in a research note on Thursday, March 2nd. Raymond James Financial, Inc. began coverage on Dermira in a research note on Thursday, March 16th. They set an “underperform” rating for the company. Finally, Citigroup Inc began coverage on Dermira in a research note on Wednesday, March 15th. They set an “underperform” rating for the company. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $43.80.

WARNING: This piece was first published by American Banking News and is the property of of American Banking News. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/05/28/short-interest-in-dermira-inc-derm-grows-by-66-8.html.

About Dermira

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.

12 Month Chart for NASDAQ:DERM

Receive News & Ratings for Dermira Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dermira Inc and related companies with MarketBeat.com's FREE daily email newsletter.