The Manufacturers Life Insurance Company lifted its position in Dermira, Inc. (NASDAQ:DERM) by 51.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,709 shares of the biopharmaceutical company’s stock after acquiring an additional 10,110 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of Dermira worth $866,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp grew its position in shares of Dermira by 38.4% in the 2nd quarter. State Street Corp now owns 821,748 shares of the biopharmaceutical company’s stock worth $23,946,000 after acquiring an additional 228,093 shares in the last quarter. Nexthera Capital LP acquired a new position in Dermira during the 2nd quarter valued at approximately $3,514,000. Tekla Capital Management LLC boosted its position in Dermira by 134.2% during the 2nd quarter. Tekla Capital Management LLC now owns 386,900 shares of the biopharmaceutical company’s stock valued at $11,274,000 after purchasing an additional 221,700 shares during the period. Voya Investment Management LLC boosted its position in Dermira by 61.4% during the 2nd quarter. Voya Investment Management LLC now owns 1,227,948 shares of the biopharmaceutical company’s stock valued at $35,783,000 after purchasing an additional 467,356 shares during the period. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in Dermira during the 2nd quarter valued at approximately $863,000. Institutional investors own 98.09% of the company’s stock.
DERM has been the subject of a number of analyst reports. Zacks Investment Research lowered Dermira from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Cantor Fitzgerald restated a “buy” rating and set a $45.00 price objective on shares of Dermira in a research report on Tuesday, September 26th. Needham & Company LLC restated a “buy” rating and set a $46.00 price objective on shares of Dermira in a research report on Sunday, September 17th. BidaskClub lowered Dermira from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Finally, Leerink Swann restated an “outperform” rating and set a $41.00 price objective (down previously from $47.00) on shares of Dermira in a research report on Tuesday, November 7th. Five investment 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 an average price target of $43.33.
In other Dermira news, CEO Thomas G. Wiggans sold 9,500 shares of the business’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $27.51, for a total transaction of $261,345.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eugene A. Bauer sold 7,500 shares of the business’s stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $30.04, for a total value of $225,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 29,400 shares of company stock valued at $822,553 in the last quarter. 13.30% of the stock is currently owned by insiders.
Dermira, Inc. (DERM) opened at $23.59 on Thursday. The company has a debt-to-equity ratio of 1.40, a current ratio of 4.68 and a quick ratio of 4.68. Dermira, Inc. has a 12-month low of $21.35 and a 12-month high of $38.75.
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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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