Dermira Inc. (NASDAQ:DERM) traded down 6.2% during mid-day trading on Wednesday . The company traded as low as $31.72 and last traded at $31.79, with a volume of 261,125 shares. The stock had previously closed at $33.89.

A number of brokerages have weighed in on DERM. Zacks Investment Research downgraded Dermira from a “hold” rating to a “sell” rating in a report on Tuesday, May 3rd. Wedbush raised 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. Needham & Company LLC raised 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. Finally, Leerink Swann reaffirmed a “buy” rating and issued a $47.00 target price (up previously from $46.00) on shares of Dermira in a report on Thursday, June 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Dermira has an average rating of “Buy” and an average target price of $41.00.

The stock’s market capitalization is $1.13 billion. The company’s 50-day moving average price is $31.70 and its 200 day moving average price is $27.16.

Dermira (NASDAQ:DERM) last posted its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by $0.03. On average, equities analysts predict that Dermira Inc. will post ($3.39) earnings per share for the current fiscal year.

In related news, VP Christopher M. Griffith sold 1,303 shares of Dermira stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $31.75, for a total value of $41,370.25. Following the sale, the vice president now owns 44,941 shares of the company’s stock, valued at approximately $1,426,876.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas G. Wiggans sold 11,000 shares of Dermira stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $31.57, for a total transaction of $347,270.00. The disclosure for this sale can be found here.

An institutional investor recently raised its position in Dermira stock. Jennison Associates LLC increased its position in Dermira Inc. (NASDAQ:DERM) by 8.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,097,201 shares of the biopharmaceutical company’s stock after buying an additional 83,858 shares during the period. Jennison Associates LLC owned about 3.67% of Dermira worth $37,974,000 at the end of the most recent 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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