Dermira Inc. (DERM) Sees Unusually-High Trading Volume
Dermira Inc. (NASDAQ:DERM) shares saw unusually-high trading volume on Friday . Approximately 971,628 shares changed hands during trading, an increase of 155% from the previous session’s volume of 381,224 shares.The stock last traded at $33.56 and had previously closed at $33.15.
DERM has been the topic of several research analyst reports. Leerink Swann reaffirmed an “outperform” rating on shares of Dermira in a research report on Saturday, April 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $46.00 price target on shares of Dermira in a research report on Wednesday, June 22nd. Zacks Investment Research raised Dermira from a “sell” rating to a “hold” rating in a research report on Wednesday, June 22nd. Finally, Wedbush lifted their price target on Dermira from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, June 2nd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $40.71.
The firm’s 50-day moving average is $30.39 and its 200 day moving average is $26.58. The company’s market cap is $1.01 billion.
Dermira (NASDAQ:DERM) last issued its quarterly earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.94) by $0.01. Analysts predict that Dermira Inc. will post ($3.51) earnings per share for the current fiscal year.
In related news, CEO Thomas G. Wiggans sold 9,000 shares of the stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $25.11, for a total value of $225,990.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eugene A. Bauer sold 2,500 shares of the stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $31.65, for a total value of $79,125.00. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have modified their holdings of the company. Jennison Associates LLC increased its position 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 worth $37,974,000 after buying an additional 83,858 shares in the last quarter. Jennison Associates increased its position 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 worth $23,651,000 after buying an additional 503,237 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Dermira by 82.2% in the fourth quarter. Morgan Stanley now owns 42,767 shares of the biopharmaceutical company’s stock worth $1,480,000 after buying an additional 19,299 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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