Dermira Inc. (DERM) Stock Price Down 2.2% on Insider Selling
Dermira Inc. (NASDAQ:DERM)’s share price traded down 2.2% during trading on Friday after an insider sold shares in the company. The stock traded as low as $32.41 and last traded at $32.62, with a volume of 67,519 shares trading hands. The stock had previously closed at $33.36.
Specifically, CFO Andrew Guggenhime sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $35.01, for a total value of $525,150.00. Following the sale, the chief financial officer now directly owns 20,116 shares in the company, valued at approximately $704,261.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Thomas G. Wiggans sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $33.19, for a total transaction of $365,090.00. The disclosure for this sale can be found here. 17.30% of the stock is currently owned by insiders.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Dermira from a “sell” rating to a “hold” rating in a research note on Friday, July 8th. Needham & Company LLC reiterated a “buy” rating and set a $46.00 target price on shares of Dermira in a research report on Wednesday, June 22nd. Finally, Leerink Swann reiterated a “buy” rating on shares of Dermira in a research report on Wednesday, October 5th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $41.00.
The firm’s market cap is $1.15 billion. The company has a 50 day moving average of $33.49 and a 200-day moving average of $30.02.
Dermira (NASDAQ:DERM) last announced its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.89) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.86) by $0.03. Analysts predict that Dermira Inc. will post ($3.46) earnings per share for the current year.
Several large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in shares of Dermira by 6,034.5% in the second quarter. JPMorgan Chase & Co. now owns 3,558 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 3,500 shares in the last quarter. Glenmede Trust Co. NA bought a new stake in shares of Dermira during the second quarter valued at $170,000. A.R.T. Advisors LLC bought a new stake in shares of Dermira during the second quarter valued at $207,000. DIAM Co. Ltd. bought a new stake in shares of Dermira during the second quarter valued at $231,000. Finally, Prudential Financial Inc. bought a new stake in shares of Dermira during the second quarter valued at $253,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.
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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