Needham analyst Serge Belanger raised his price target on Dermira to $22 and kept his Buy rating, saying the company's lebrikizumab phase 2B trial results demonstrated that it delivered on all 3 product attributes of efficacy, safety and dosing in treating atopic dermatitis. The analyst notes that the new price target reflects "significant de-risking and increased potential of the lebri program" as he expects Dermira to begin phase 3 trials later this year with results anticipated in 2021.
https://thefly.com/landingPageNews.php?id=2883597
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