In a report released today, Louise Chen from Cantor Fitzgerald reiterated a Buy rating on Dermira (NASDAQ: DERM), with a price target of $20. The company’s shares opened today at $10.14, close to its 52-week low of $6.98.
Chen said:
“. Post DERM’s solid quarter of execution, we reiterate our Overweight rating and 12-month price target of $20 for DERM shares. We think there is not enough value being attributed to DERM’s two key assets: 1) Qbrexza (glycopyrronium) for hyperhidrosis (excessive sweating) and 2) lebrikizumab for atopic dermatitis. The launch of Qbrexza and pipeline advancements for lebrikizumab should drive upward earnings revisions to levels not yet reflected in sell-side consensus expectations and should drive DERM’s stock higher.”
According to TipRanks.com, Chen has currently no stars on a ranking scale of 0-5 stars, with an average return of -6.0% and a 41.4% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Melinta Therapeutics Inc, and Aclaris Therapeutics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Dermira with a $15.33 average price target.
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Based on Dermira’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $59.25 million. In comparison, last year the company had a GAAP net loss of $38.57 million.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DERM in relation to earlier this year.
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Dermira, Inc. is a biopharmaceutical company, which engages in the provision of biotech ingenuity to medical dermatology. It focuses on the development of therapeutic solutions in medical dermatology to treat skin conditions, such as hyperhidrosis, psoriasis, and acne.
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