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Evercore sees big market for new Dermira drug; shares +5.5%

Jun. 29, 2018 11:02 AM ETDermira, Inc. (DERM-OLD) StockDERM-OLDBy: Jason Aycock, SA News Editor5 Comments
  • Dermira (NASDAQ:DERM) is up 5.5%, with Evercore seeing solid market opportunity after the company's prescription wipe for excessive underarm sweat won FDA approval.
  • Some 800,000 people are treated for primary axillary hyperhidrosis, analyst Umer Raffat notes, and peak risk-adjusted sales are modeled at $200M. Investors now will look toward phase 2B data for lebrikizumab in atopic dermatitis due early next year. (h/t Bloomberg)
  • Raffat has a price target of $16, implying 73% further upside from here.

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