Needham & Company LLC Reiterates Buy Rating for Dermira, Inc. (DERM)
Needham & Company LLC reissued their buy rating on shares of Dermira, Inc. (NASDAQ:DERM) in a report published on Tuesday morning. The firm currently has a $46.00 price objective on the biopharmaceutical company’s stock.
Other research analysts have also recently issued reports about the stock. Cantor Fitzgerald began coverage on shares of Dermira in a research note on Thursday, June 22nd. They set an overweight rating and a $45.00 price objective for the company. BidaskClub raised shares of Dermira from a sell rating to a hold rating in a research note on Thursday, June 15th. Mizuho dropped their price objective on shares of Dermira from $42.00 to $40.00 and set a buy rating for the company in a research note on Thursday, May 25th. Finally, Evercore ISI assumed coverage on shares of Dermira in a research note on Thursday, June 29th. They issued an outperform rating and a $48.00 target price for the company. Three analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $43.80.
Dermira (DERM) traded up 1.71% during midday trading on Tuesday, hitting $29.09. The stock had a trading volume of 104,066 shares. The stock has a 50-day moving average price of $28.99 and a 200 day moving average price of $31.12. The firm’s market cap is $1.21 billion. Dermira has a 12-month low of $25.63 and a 12-month high of $38.75.
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In other Dermira news, SVP Christopher M. Griffith sold 1,312 shares of Dermira stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $27.07, for a total value of $35,515.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eugene A. Bauer sold 2,500 shares of Dermira stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $30.00, for a total transaction of $75,000.00. The disclosure for this sale can be found here. Insiders sold a total of 16,312 shares of company stock valued at $468,441 over the last ninety days. 13.30% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new stake in Dermira during the first quarter valued at approximately $2,346,000. Platinum Investment Management Ltd. boosted its stake in shares of Dermira by 53.4% in the first quarter. Platinum Investment Management Ltd. now owns 44,800 shares of the biopharmaceutical company’s stock valued at $1,528,000 after buying an additional 15,600 shares in the last quarter. Clough Capital Partners L P boosted its stake in shares of Dermira by 10.5% in the first quarter. Clough Capital Partners L P now owns 254,785 shares of the biopharmaceutical company’s stock valued at $8,691,000 after buying an additional 24,200 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of Dermira during the first quarter valued at about $1,364,000. Finally, Endurant Capital Management LP boosted its stake in shares of Dermira by 24.3% in the first quarter. Endurant Capital Management LP now owns 31,188 shares of the biopharmaceutical company’s stock valued at $1,064,000 after buying an additional 6,100 shares in the last quarter. 84.58% of the stock is owned by hedge funds and other institutional investors.
Dermira, Inc is a biopharmaceutical company. The Company is focused on the development of therapeutic solutions in medical dermatology to treat skin conditions, such as hyperhidrosis, psoriasis and acne. Its portfolio includes three late-stage product candidates: Cimzia (certolizumab pegol), glycopyrronium tosylate and olumacostat glasaretil.
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