Traders Purchase Large Volume of Dermira Put Options (DERM)

Dermira Inc (NASDAQ:DERM) was the target of some unusual options trading activity on Monday. Investors purchased 4,691 put options on the company. This represents an increase of approximately 681% compared to the average daily volume of 601 put options.

DERM has been the subject of a number of research analyst reports. Cantor Fitzgerald set a $20.00 price target on shares of Dermira and gave the company a “buy” rating in a report on Friday, December 28th. BidaskClub downgraded shares of Dermira from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 15th. Guggenheim reiterated a “buy” rating and issued a $20.00 price target on shares of Dermira in a report on Tuesday, November 20th. Zacks Investment Research raised shares of Dermira from a “hold” rating to a “buy” rating and set a $8.25 price objective on the stock in a research note on Thursday, January 10th. Finally, HC Wainwright began coverage on shares of Dermira in a research note on Thursday, February 14th. They issued a “buy” rating and a $13.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $14.91.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE grew its stake in Dermira by 469.9% in the 4th quarter. Bank of America Corp DE now owns 2,172,328 shares of the biopharmaceutical company’s stock valued at $15,619,000 after acquiring an additional 1,791,178 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Dermira by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 943,421 shares of the biopharmaceutical company’s stock worth $6,783,000 after purchasing an additional 22,816 shares during the last quarter. Sofinnova Investments Inc. boosted its stake in shares of Dermira by 9.5% during the 4th quarter. Sofinnova Investments Inc. now owns 542,224 shares of the biopharmaceutical company’s stock worth $3,899,000 after purchasing an additional 46,931 shares during the last quarter. Sofinnova Ventures Inc boosted its stake in shares of Dermira by 35.9% during the 3rd quarter. Sofinnova Ventures Inc now owns 495,293 shares of the biopharmaceutical company’s stock worth $5,399,000 after purchasing an additional 130,953 shares during the last quarter. Finally, First Midwest Bank Trust Division boosted its stake in shares of Dermira by 31.2% during the 4th quarter. First Midwest Bank Trust Division now owns 443,625 shares of the biopharmaceutical company’s stock worth $3,190,000 after purchasing an additional 105,565 shares during the last quarter. 87.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ DERM opened at $14.13 on Wednesday. The stock has a market capitalization of $288.11 million, a P/E ratio of -2.70 and a beta of 1.34. Dermira has a 52 week low of $6.00 and a 52 week high of $14.91. The company has a debt-to-equity ratio of 5.21, a quick ratio of 8.48 and a current ratio of 8.70.

Dermira (NASDAQ:DERM) last issued its quarterly earnings data on Tuesday, February 26th. The biopharmaceutical company reported ($1.70) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.75) by $0.05. Dermira had a negative net margin of 523.25% and a negative return on equity of 224.80%. As a group, equities research analysts expect that Dermira will post -5.43 earnings per share for the current year.

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Dermira Company Profile

Dermira, Inc, a biopharmaceutical company, identifies, develops, and commercializes therapies to treat dermatologic diseases. The company's product candidates include Glycopyrronium tosylate, a novel form of an anticholinergic agent that has completed Phase III clinical trial for the treatment of primary axillary hyperhidrosis; Olumacostat glasaretil, a novel small molecule designed to target sebum production, which is in Phase III clinical trial for the treatment of acne vulgaris; and lebrikizumab, a novel humanized monoclonal antibody targeting interleukin 13 that is in Phase 2b development for the treatment of moderate-to-severe atopic dermatitis.

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