Dermira Inc. (DERM) Sees Strong Trading Volume
Shares of Dermira Inc. (NASDAQ:DERM) saw unusually-high trading volume on Friday . Approximately 971,628 shares were traded 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.
A number of research firms have weighed in on DERM. Needham & Company LLC increased their target price on Dermira from $42.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, June 2nd. Leerink Swann reissued a “buy” rating and issued a $46.00 target price (up previously from $39.00) on shares of Dermira in a report on Tuesday, May 10th. Zacks Investment Research raised Dermira from a “sell” rating to a “hold” rating in a report on Wednesday, June 22nd. Finally, Wedbush increased their target price on Dermira from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, June 2nd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $40.71.
The company’s market cap is $1.01 billion. The company has a 50-day moving average of $30.39 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 Zacks’ consensus estimate of ($0.94) by $0.01. On average, analysts expect that Dermira Inc. will post ($3.51) EPS for the current fiscal 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 transaction of $62,725.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas G. Wiggans sold 11,000 shares of the business’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $31.57, for a total value of $347,270.00. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have made changes to their positions in the company. 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 valued at $23,651,000 after buying an additional 503,237 shares during the period. 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 valued at $1,480,000 after buying an additional 19,299 shares during the period. Finally, 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 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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