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

DERM has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price target on shares of Dermira in a research note on Friday, April 1st. Leerink Swann reiterated an “outperform” rating on shares of Dermira in a research note on Saturday, April 16th. Zacks Investment Research lowered shares of Dermira from a “hold” rating to a “sell” rating in a research note on Tuesday, May 3rd. Finally, Wedbush lifted their price target on shares of Dermira from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, June 2nd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Dermira currently has an average rating of “Buy” and a consensus price target of $40.71.

The stock’s 50 day moving average is $30.39 and its 200 day moving average is $26.58. The firm’s market capitalization is $1.01 billion.

Dermira (NASDAQ:DERM) last issued its 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 research analysts predict that Dermira Inc. will post ($3.51) EPS for the current fiscal year.

In other Dermira news, insider Eugene A. Bauer sold 2,500 shares of the stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $25.09, for a total transaction of $62,725.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $225,990.00. The disclosure for this sale can be found here.

Several hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates raised 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 last quarter. Jennison Associates LLC raised 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 last quarter. Finally, Morgan Stanley raised 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 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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