In a report released today, Louise Chen from Cantor Fitzgerald maintained a Buy rating on Dermira (DERM), with a price target of $20. The company’s shares opened today at $12.50.
Chen observed:
“. Post DERM’s solid quarter of execution, we reiterate our OW 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 DERM’s stock higher.”
According to TipRanks.com, Chen is a 5-star analyst with an average return of 15.4% and a 40.6% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Amneal Pharmaceuticals Inc, and Aridis Pharmaceuticals Inc.
Dermira has an analyst consensus of Hold, with a price target consensus of $15.
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Based on Dermira’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $23.93 million. In comparison, last year the company had a GAAP net loss of $179 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.
