Dermira Inc. (NASDAQ:DERM) shares fell 4.2% during trading on Thursday . The company traded as low as $32.67 and last traded at $32.93, with a volume of 276,839 shares trading hands. The stock had previously closed at $34.37.

DERM has been the subject of several recent analyst reports. Needham & Company LLC increased their price objective on Dermira from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, June 2nd. Leerink Swann reiterated a “buy” rating and set a $47.00 price objective (up from $46.00) on shares of Dermira in a research note on Thursday, June 2nd. Wedbush increased their price objective on Dermira from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, June 2nd. Finally, Zacks Investment Research upgraded Dermira from a “sell” rating to a “hold” rating in a research note on Friday, July 8th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Dermira has a consensus rating of “Buy” and an average target price of $40.71.

The stock’s market cap is $995.10 million. The stock’s 50-day moving average is $30.29 and its 200-day moving average is $26.56.

Dermira (NASDAQ:DERM) last released 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. On average, equities analysts forecast that Dermira Inc. will post ($3.51) EPS for the current year.

In related news, insider Eugene A. Bauer sold 2,500 shares of the business’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $25.09, for a total value of $62,725.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 disclosure for this sale can be found here.

A number of hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley increased its stake in 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 during the period. Jennison Associates increased its stake in 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 during the period. Finally, Jennison Associates LLC increased its stake in 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.

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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