Alliancebernstein L.P. increased its position in shares of Dermira, Inc. (NASDAQ:DERM) by 4.5% during the first quarter, Holdings Channel reports. The fund owned 41,600 shares of the biopharmaceutical company’s stock after buying an additional 1,800 shares during the period. Alliancebernstein L.P.’s holdings in Dermira were worth $1,419,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Granite Point Capital Management L.P. increased its position in shares of Dermira by 3.1% in the first quarter. Granite Point Capital Management L.P. now owns 38,150 shares of the biopharmaceutical company’s stock worth $1,301,000 after buying an additional 1,150 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Dermira by 6.5% in the first quarter. Nationwide Fund Advisors now owns 30,609 shares of the biopharmaceutical company’s stock worth $1,044,000 after buying an additional 1,867 shares during the last quarter. American International Group Inc. increased its position in shares of Dermira by 23.4% in the first quarter. American International Group Inc. now owns 14,900 shares of the biopharmaceutical company’s stock worth $508,000 after buying an additional 2,829 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Dermira by 27.6% in the first quarter. Parametric Portfolio Associates LLC now owns 20,431 shares of the biopharmaceutical company’s stock worth $697,000 after buying an additional 4,417 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Dermira by 2.8% in the fourth quarter. Teachers Advisors LLC now owns 263,938 shares of the biopharmaceutical company’s stock worth $8,005,000 after buying an additional 7,311 shares during the last quarter. 84.59% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Dermira, Inc. (NASDAQ:DERM) opened at 29.02 on Wednesday. Dermira, Inc. has a 1-year low of $25.63 and a 1-year high of $38.75. The firm’s market capitalization is $1.20 billion. The firm has a 50-day moving average of $29.09 and a 200-day moving average of $31.08.
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A number of brokerages recently commented on DERM. Cantor Fitzgerald began coverage on shares of Dermira in a research report on Thursday, June 22nd. They set an “overweight” rating and a $45.00 price objective on the stock. BidaskClub raised shares of Dermira from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Mizuho lowered their price objective on shares of Dermira from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, May 25th. Evercore ISI began coverage on shares of Dermira in a research report on Thursday, June 29th. They set an “outperform” rating and a $48.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $46.00 price objective on shares of Dermira in a research report on Tuesday, July 18th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $43.80.
In other news, CEO Thomas G. Wiggans sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $29.06, for a total transaction of $145,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eugene A. Bauer sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $30.00, for a total transaction of $75,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,312 shares of company stock valued at $468,441. 13.30% of the stock is owned by company insiders.
Dermira Company Profile
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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