H.C. Wainwright analyst Douglas Tsao yesterday morning initiated coverage of Dermira with a Buy rating and $13 price target. The analyst said that while it may take time, his proprietary survey points to success for Qbrexza. The analyst recently surveyed 50 dermatologists about Qbrexza and the axillary hyperhidrosis market and the results make him confident regarding Qbrexza’s potential. 66% of the dermatologists surveyed intend to use Qbrexza as front-line therapy, Tsao tells investors in a research note. The analyst currently forecasts peak sales of $352M, although he thinks Qbrexza has the potential to reach $500M in sales. Studies estimate there are 10M people suffering from axillary hyperhidrosis, he points out.
https://thefly.com/landingPageNews.php?id=2865521
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