Dermira Inc (NASDAQ:DERM) Sees Large Decline in Short Interest

Dermira Inc (NASDAQ:DERM) was the target of a significant decline in short interest in January. As of January 31st, there was short interest totalling 5,610,000 shares, a decline of 17.5% from the January 15th total of 6,800,000 shares. Currently, 12.4% of the company’s stock are short sold. Based on an average trading volume of 2,400,000 shares, the short-interest ratio is presently 2.3 days.

Several equities research analysts have recently issued reports on the stock. HC Wainwright cut shares of Dermira from a “buy” rating to a “neutral” rating and set a $18.75 price objective for the company. in a research report on Thursday, January 23rd. Svb Leerink reaffirmed an “outperform” rating on shares of Dermira in a research report on Thursday, January 2nd. Evercore ISI reaffirmed a “buy” rating on shares of Dermira in a research report on Thursday, December 12th. Guggenheim cut shares of Dermira from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Finally, BidaskClub cut shares of Dermira from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $18.59.

In other Dermira news, Director Matthew K. Fust sold 3,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $12.00, for a total value of $36,000.00. Following the completion of the transaction, the director now owns 8,051 shares in the company, valued at $96,612. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 12.40% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in DERM. Great Point Partners LLC lifted its position in Dermira by 68.8% in the third quarter. Great Point Partners LLC now owns 2,621,333 shares of the biopharmaceutical company’s stock valued at $16,750,000 after acquiring an additional 1,068,433 shares during the last quarter. Oracle Investment Management Inc. lifted its position in Dermira by 37.9% in the fourth quarter. Oracle Investment Management Inc. now owns 2,528,311 shares of the biopharmaceutical company’s stock valued at $38,329,000 after acquiring an additional 694,526 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Dermira by 1,693.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 494,858 shares of the biopharmaceutical company’s stock valued at $7,502,000 after acquiring an additional 467,258 shares during the last quarter. Millennium Management LLC lifted its position in Dermira by 747.5% in the third quarter. Millennium Management LLC now owns 409,129 shares of the biopharmaceutical company’s stock valued at $2,614,000 after acquiring an additional 360,852 shares during the last quarter. Finally, Broadfin Capital LLC lifted its position in Dermira by 54.6% in the fourth quarter. Broadfin Capital LLC now owns 896,334 shares of the biopharmaceutical company’s stock valued at $13,588,000 after acquiring an additional 316,734 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

DERM remained flat at $$18.74 on Friday. 636,619 shares of the company were exchanged, compared to its average volume of 3,356,900. Dermira has a 52-week low of $5.25 and a 52-week high of $19.48. The company has a market cap of $1.02 billion, a PE ratio of -4.09 and a beta of 1.56. The company has a debt-to-equity ratio of 25.08, a current ratio of 7.03 and a quick ratio of 6.63. The stock’s 50-day simple moving average is $17.89 and its 200-day simple moving average is $10.71.

About Dermira

Dermira, Inc, a biopharmaceutical company, develops and commercializes therapies for patients with dermatologic diseases in the United States. The company offers QBREXZA, a topical once-daily anticholinergic cloth for the treatment of primary axillary hyperhidrosis in adult and pediatric patients nine years of age and older.

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