Short Interest in Dermira Inc (DERM) Grows By 66.8%
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.
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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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