Dermira, Inc. (NASDAQ:DERM) Cut to “Sell” at BidaskClub
BidaskClub downgraded shares of Dermira, Inc. (NASDAQ:DERM) from a hold rating to a sell rating in a research report released on Wednesday.
Several other analysts have also commented on the company. Mizuho dropped their target price on Dermira from $42.00 to $40.00 and set a buy rating on the stock in a report on Thursday, May 25th. Evercore ISI initiated coverage on Dermira in a report on Thursday, June 29th. They set an outperform rating and a $48.00 target price on the stock. Cantor Fitzgerald initiated coverage on Dermira in a report on Thursday, June 22nd. They set an overweight rating and a $45.00 target price on the stock. Needham & Company LLC reaffirmed a buy rating and set a $46.00 target price on shares of Dermira in a report on Tuesday, July 18th. Finally, Zacks Investment Research lowered Dermira from a hold rating to a sell rating in a report on Friday, July 28th. Five investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $43.80.
Dermira (NASDAQ:DERM) opened at 26.44 on Wednesday. Dermira has a 52 week low of $25.63 and a 52 week high of $38.75. The company’s 50 day moving average price is $29.16 and its 200-day moving average price is $30.96. The company’s market capitalization is $1.10 billion.
In other Dermira news, CEO Thomas G. Wiggans sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $27.52, for a total value of $137,600.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Christopher M. Griffith sold 1,312 shares of the firm’s 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 disclosure for this sale can be found here. Over the last three months, insiders sold 16,812 shares of company stock worth $482,231. 13.30% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its stake in shares of Dermira by 2,220.7% in the second quarter. BNP Paribas Arbitrage SA now owns 4,154 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 3,975 shares during the last quarter. SG Americas Securities LLC increased its position in Dermira by 66.8% in the second quarter. SG Americas Securities LLC now owns 5,503 shares of the biopharmaceutical company’s stock valued at $160,000 after buying an additional 2,203 shares during the period. KCG Holdings Inc. purchased a new position in Dermira during the first quarter valued at $215,000. Legal & General Group Plc increased its position in Dermira by 16.3% in the first quarter. Legal & General Group Plc now owns 6,861 shares of the biopharmaceutical company’s stock valued at $236,000 after buying an additional 963 shares during the period. Finally, Tocqueville Asset Management L.P. purchased a new position in Dermira during the first quarter valued at $256,000. 84.54% of the stock is currently owned by institutional investors.
Dermira Company Profile
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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