Needham & Company Starts Dermira (DERM) at Buy

Needham & Company initiates coverage on Dermira (NASDAQ: DERM) with a Buy rating and a price target of $23.00.

Analyst Elliot Wilbur said, "We are initiating coverage of Dermira (DERM), an emerging spec pharma leader in dermatology. We believe DERM is endowed with "rock star" management, a late-stage pipeline of innovative therapies and a target market hungry for novel effective treatments. The most advanced candidate, TNF-inhibitor Cimzia for psoriasis, will begin ph 3 trials in 1H15. The rest of the pipeline includes DRM04, a novel therapeutic for hyperhidrosis currently being evaluated in a ph 2b study, and DRM01, a topical acne therapy targeting sebum production on deck for a ph 2b trial in 1H15. Given our view that all three late-stage candidates have the potential to become first-in-class products in their respective indications, we believe DERM is well positioned to fill the void as a leader in the dermatology market."

For an analyst ratings summary and ratings history on Dermira click here. For more ratings news on Dermira click here.

Shares of Dermira closed at $15.50 yesterday.

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