Cantor Fitzgerald analyst Louise Chen reiterated a Buy rating on Dermira (NASDAQ: DERM) today and set a price target of $20. The company’s shares opened today at $9.15, close to its 52-week low of $6.98.
Chen observed:
“Takeaways from the quarter that support our thesis: 1) On 01/31/18 DERM announced the initiation of a Phase 2b dose-ranging study evaluating the safety and efficacy of lebrikizumab in adult patients with moderate-to-severe atopic dermatitis, with data expected in 1H19; 2) on 02/17/18 DERM presented new findings from its glycopyrronium tosylate (formerly DRM04) Phase 3 clinical program showing that when applied topically, the investigational therapy improved disease severity, reduced sweat production and was associated with improved quality of life outcomes for pediatric patients (ages 9 to 16) with primary axillary hyperhidrosis, compared to vehicle-treated patients. The data were featured in an oral presentation during the Late-Breaking Research Forums at the 76th Annual Meeting of AAD; 3) in April 2018, DERM announced the appointment of Christopher Horan as Chief Technical Operations Officer; and 4) cash and equivalents totaled $495.8MM at 03/31/18. DERM will issue financial guidance on its inaugural analyst and investor day on 5/24/18.”
According to TipRanks.com, Chen is ranked 0 out of 5 stars with an average return of -12.0% and a 35.4% success rate. Chen covers the Healthcare sector, focusing on stocks such as Aclaris Therapeutics Inc, Paratek Pharmaceuticals, and Spero Therapeutics Inc.
Dermira has an analyst consensus of Moderate Buy, with a price target consensus of $18.25.
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Based on Dermira’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $1.34 million and GAAP net loss of $56.01 million. In comparison, last year the company earned revenue of $1.07 million and had a GAAP net loss of $29.51 million.
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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. The company was founded by Thomas G. Wiggans, Eugene Andrew Bauer, Luis C.
Read More on DERM:
Dermira Inc (DERM): Hit Me Baby One More Time
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