Dermira Inc’s Stock Formed A Several Months Bullish Double Top Pattern

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The chart of Dermira Inc (DERM) shows a double top with $38.85 target or 33.00% above today’s $29.21 share price. The 6 months chart pattern indicates low risk for the $883.50 million company. It was reported on Dec, 12 by If the $38.85 price target is reached, the company will be worth $291.56 million more. Double tops are rare but powerful chart patterns. The stock is up 0.02% or $0.01 after the news, hitting $29.21 per share. About 194,628 shares traded hands or 55.82% up from the average. Dermira Inc (NASDAQ:DERM) has risen 99.80% since May 8, 2015 and is uptrending. It has outperformed by 102.82% the S&P500.

Out of 5 analysts covering Dermira Inc (NASDAQ:DERM), 0 rate it “Buy”, 0 “Sell”, while 0 “Hold”. This means NaN are positive. $40 is the highest target while $20 is the lowest. The $34.4 average target is 30.09% above today’s ($29.21) stock price. Dermira Inc was the topic in 4 analyst reports since August 7, 2015 according to StockzIntelligence Inc. Cowen & Co initiated the stock on August 19 with “Outperform” rating.

According to Zacks Investment Research, “Dermira, Inc. is a specialty biopharmaceutical company. It is focused on bringing medical dermatology products to dermatologists and their patients. The Company markets topical small molecule therapeutics that target acne, sebaceous gland hyperactivity, and inflammatory skin diseases. Its late-stage product candidates comprise Cimzia which has completed Phase II clinical trials for the treatment of moderate-to-severe plaque psoriasis; DRM04 that is in a Phase IIb clinical trial for the treatment of hyperhidrosis or excessive sweating; and DRM01 which has completed a Phase IIa clinical trial for the treatment of acne. Dermira, Inc. is headquartered in Redwood City, California.” Get a free copy of the Zacks research report on Dermira Inc (DERM).

The institutional sentiment increased to 3.59 in 2015 Q3. Its up 0.72, from 2.87 in 2015Q2. The ratio increased, as 7 funds sold all Dermira Inc shares owned while 10 reduced positions. 21 funds bought stakes while 40 increased positions. They now own 49.29 million shares or 237.01% more from 14.62 million shares in 2015Q2.

New Leaf Venture Partners L.L.C. holds 5.7% of its portfolio in Dermira Inc for 281,592 shares. Nea Management Company Llc owns 3.51 million shares or 5.39% of their US portfolio. Moreover, Aisling Capital Llc has 4.52% invested in the company for 1.10 million shares. The California-based Venbio Select Advisor Llc has invested 2.2% in the stock. Abingworth Llp, a United Kingdom-based fund reported 70,000 shares.

Since September 15, 2015, the stock had 0 insider buys, and 2 sales for $688,410 net activity. Bauer Eugene A sold 2,500 shares worth $57,174.

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