Jennison Associates LLC increased its position in Dermira, Inc. (NASDAQ:DERM) by 0.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,640,740 shares of the biopharmaceutical company’s stock after buying an additional 7,746 shares during the period. Jennison Associates LLC owned 6.35% of Dermira worth $71,300,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Pictet Asset Management Ltd. acquired a new position in Dermira in the third quarter worth approximately $2,246,000. Ardsley Advisory Partners acquired a new position in Dermira during the second quarter valued at approximately $291,000. California State Teachers Retirement System grew its holdings in Dermira by 18.2% during the second quarter. California State Teachers Retirement System now owns 67,518 shares of the biopharmaceutical company’s stock valued at $1,967,000 after purchasing an additional 10,400 shares during the last quarter. Bank of Nova Scotia acquired a new position in Dermira during the second quarter valued at approximately $318,000. Finally, Platinum Investment Management Ltd. grew its holdings in Dermira by 28.8% during the second quarter. Platinum Investment Management Ltd. now owns 57,700 shares of the biopharmaceutical company’s stock valued at $1,681,000 after purchasing an additional 12,900 shares during the last quarter. Hedge funds and other institutional investors own 98.09% of the company’s stock.
Several equities analysts have commented on DERM shares. Zacks Investment Research downgraded Dermira from a “hold” rating to a “sell” rating in a report on Thursday. Cantor Fitzgerald reiterated a “buy” rating and set a $45.00 price target on shares of Dermira in a report on Tuesday, September 26th. Leerink Swann reiterated an “outperform” rating and set a $41.00 price target (down previously from $47.00) on shares of Dermira in a report on Tuesday, November 7th. Needham & Company LLC reiterated a “buy” rating and set a $43.00 price target (down previously from $46.00) on shares of Dermira in a report on Tuesday, November 7th. Finally, Mizuho reiterated a “buy” rating and set a $43.00 price target (up previously from $40.00) on shares of Dermira in a report on Thursday, September 7th. Five research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $43.33.
Shares of Dermira, Inc. (NASDAQ:DERM) traded down $0.42 during trading on Monday, hitting $24.81. 424,300 shares of the stock traded hands, compared to its average volume of 410,676. The company has a debt-to-equity ratio of 1.40, a quick ratio of 4.68 and a current ratio of 4.68. Dermira, Inc. has a twelve month low of $21.35 and a twelve month high of $38.75.
In other news, CEO Thomas G. Wiggans sold 5,000 shares of the firm’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $27.52, for a total value of $137,600.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Eugene A. Bauer sold 7,500 shares of the firm’s stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $30.04, for a total transaction of $225,300.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,400 shares of company stock worth $822,553. 13.30% of the stock is currently 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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