Dermira Inc. (DERM) Trading Down 3.2% Following Insider Selling
Dermira Inc. (NASDAQ:DERM)’s share price traded down 3.2% on Wednesday following insider selling activity. The company traded as low as $34.43 and last traded at $34.44, with a volume of 133,543 shares trading hands. The stock had previously closed at $35.57.
Specifically, CFO Andrew Guggenhime sold 15,000 shares of Dermira stock in a transaction on Monday, September 19th. The shares were sold at an average price of $35.01, for a total transaction of $525,150.00. Following the completion of the sale, the chief financial officer now directly owns 20,116 shares of the company’s stock, valued at approximately $704,261.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Eugene A. Bauer sold 2,500 shares of Dermira stock in a transaction on Friday, July 1st. The stock was sold at an average price of $29.48, for a total transaction of $73,700.00. The disclosure for this sale can be found here. 17.30% of the stock is currently owned by company insiders.
Several equities research analysts have recently issued reports on DERM shares. Needham & Company LLC reaffirmed a “buy” rating and set a $46.00 price objective on shares of Dermira in a research report on Wednesday, June 22nd. Zacks Investment Research raised shares of Dermira from a “sell” rating to a “hold” rating in a research report on Wednesday, June 22nd. Wedbush lifted their price objective on shares of Dermira from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, June 2nd. Finally, Leerink Swann reaffirmed a “buy” rating and set a $47.00 price objective (up from $46.00) on shares of Dermira in a research report on Thursday, June 2nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $41.00.
The stock’s market capitalization is $1.22 billion. The stock has a 50 day moving average of $32.43 and a 200-day moving average of $28.54.
Dermira (NASDAQ:DERM) last posted its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.89) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.86) by $0.03. Equities analysts anticipate that Dermira Inc. will post ($3.39) earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in Dermira by 6,034.5% in the second quarter. JPMorgan Chase & Co. now owns 3,558 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 3,500 shares in the last quarter. Glenmede Trust Co. NA bought a new position in Dermira during the second quarter worth $170,000. A.R.T. Advisors LLC bought a new position in Dermira during the second quarter worth $207,000. DIAM Co. Ltd. bought a new position in Dermira during the second quarter worth $231,000. Finally, Prudential Financial Inc. bought a new position in Dermira during the second quarter worth $253,000. 82.46% of the stock is currently owned by institutional investors.
Dermira Company Profile
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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