Dermira Inc. (DERM) Stock Price Up 3.6%
Shares of Dermira Inc. (NASDAQ:DERM) rose 3.6% on Thursday . The stock traded as high as $30.08 and last traded at $29.99, with a volume of 360,823 shares changing hands. The stock had previously closed at $28.94.
DERM has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Dermira from a “sell” rating to a “hold” rating in a research report on Tuesday, June 14th. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price objective on shares of Dermira in a research report on Friday, April 1st. Leerink Swann reiterated a “buy” rating and issued a $46.00 price objective (up from $39.00) on shares of Dermira in a research report on Tuesday, May 10th. Finally, Wedbush lifted 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 analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Dermira presently has a consensus rating of “Buy” and an average price target of $40.71.
The firm’s market cap is $910.75 million. The stock has a 50-day moving average of $29.92 and a 200 day moving average of $26.58.
Dermira (NASDAQ:DERM) last announced its quarterly earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.95) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.94) by $0.01. Equities analysts expect that Dermira Inc. will post ($3.51) earnings per share for the current fiscal year.
In other Dermira news, CEO Thomas G. Wiggans sold 9,000 shares of the business’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $25.11, for a total value of $225,990.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Andrew Guggenhime sold 10,000 shares of the business’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $30.15, for a total transaction of $301,500.00. Following the completion of the sale, the chief financial officer now directly owns 14,375 shares in the company, valued at approximately $433,406.25. The disclosure for this sale can be found here.
A number of large investors have made changes to their positions in DERM. Jennison Associates LLC raised its stake in shares of Dermira by 8.3% in the fourth quarter. Jennison Associates LLC now owns 1,097,201 shares of the biopharmaceutical company’s stock valued at $37,974,000 after buying an additional 83,858 shares during the period. Wells Fargo & Company MN increased its stake in shares of Dermira by 424.6% in the fourth quarter. Wells Fargo & Company MN now owns 41,036 shares of the biopharmaceutical company’s stock valued at $1,420,000 after buying an additional 33,213 shares in the last quarter. Morgan Stanley increased its stake in shares of Dermira by 82.2% in the fourth quarter. Morgan Stanley now owns 42,767 shares of the biopharmaceutical company’s stock valued at $1,480,000 after buying an additional 19,299 shares in the last quarter. Finally, Jennison Associates increased its stake in shares of Dermira by 98.7% in the third quarter. Jennison Associates now owns 1,013,343 shares of the biopharmaceutical company’s stock valued at $23,651,000 after buying an additional 503,237 shares in the last quarter.
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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