Vanguard Group Inc. Acquires 217,943 Shares of Dermira, Inc. (NASDAQ:DERM)
Vanguard Group Inc. raised its stake in shares of Dermira, Inc. (NASDAQ:DERM) by 20.7% during the first quarter, Holdings Channel reports. The institutional investor owned 1,272,700 shares of the biopharmaceutical company’s stock after buying an additional 217,943 shares during the period. Vanguard Group Inc.’s holdings in Dermira were worth $43,412,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. Legal & General Group Plc raised its stake 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 in the last quarter. Tocqueville Asset Management L.P. purchased a new position in Dermira during the first quarter valued at approximately $256,000. RidgeWorth Capital Management LLC purchased a new position in Dermira during the first quarter valued at approximately $297,000. Airain ltd purchased a new position in Dermira during the first quarter valued at approximately $317,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Dermira during the first quarter valued at approximately $348,000. Institutional investors and hedge funds own 84.57% of the company’s stock.
Dermira, Inc. (NASDAQ:DERM) traded up 3.15% on Friday, hitting $23.25. 382,274 shares of the company traded hands. Dermira, Inc. has a 12 month low of $21.35 and a 12 month high of $38.75. The stock’s 50-day moving average is $28.06 and its 200 day moving average is $30.67. The firm’s market capitalization is $966.99 million.
Dermira (NASDAQ:DERM) last released its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported ($0.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by $0.04. Dermira had a negative return on equity of 31.66% and a negative net margin of 408.50%. The company had revenue of $1.07 million for the quarter, compared to analyst estimates of $1 million. Equities analysts forecast that Dermira, Inc. will post ($4.17) EPS for the current fiscal year.
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DERM has been the subject of several recent analyst reports. BidaskClub upgraded shares of Dermira from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Needham & Company LLC reiterated a “buy” rating and set a $46.00 price objective on shares of Dermira in a research note on Tuesday, July 18th. Evercore ISI initiated coverage on shares of Dermira in a research note on Thursday, June 29th. They set an “outperform” rating and a $48.00 price objective for the company. Zacks Investment Research lowered shares of Dermira from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Cantor Fitzgerald initiated 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. Five equities research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Dermira presently has an average rating of “Hold” and an average price target of $43.80.
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 shares were sold at an average price of $27.52, for a total transaction of $137,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at 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 stock was sold at an average price of $27.07, for a total transaction of $35,515.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,812 shares of company stock worth $482,231. 13.30% of the stock is owned by corporate insiders.
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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