Cantor Fitzgerald Reiterates Their Buy Rating on Dermira (DERM)


In a report released today, Louise Chen from Cantor Fitzgerald reiterated a Buy rating on Dermira (DERM), with a price target of $20. The company’s shares closed yesterday at $13.20.

Chen commented:

“. We are reiterating our OW rating and 12 month PT of $20 for DERM shares post its equity raise. The raise gives DERM the funds needed to: 1) continue the commercialization of R&D as well as commercialization of product candidates, including for working capital, capex and other corporate purposes. The next catalyst is likely to be Almirall’s (Not Covered) exercise of its EU option for Lebrikzumab. Also, physicians we have spoken with after the positive Phase 2b Lebrikizumab data underscore a place for it in the market given its safety and efficacy. Finally, we continue to think DERM is an interesting asset in a consolidating space.”

According to TipRanks.com, Chen is a 5-star analyst with an average return of 15.2% and a 46.0% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aridis Pharmaceuticals Inc, and Amneal Pharmaceuticals Inc.

Currently, the analyst consensus on Dermira is a Strong Buy with an average price target of $21.43, which is a 62.3% upside from current levels. In a report issued on March 19, Citigroup also maintained a Buy rating on the stock with a $20 price target.

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The company has a one-year high of $14.91 and a one-year low of $6.00. Currently, Dermira has an average volume of 1.96M.

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Dermira, Inc. is a biopharmaceutical company, which engages in the provision of therapies for chronic skin conditions. It focuses on the development of therapeutic solutions in medical dermatology to treat skin conditions, such as hyperhidrosis and atopic dermatitis.

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