Dermata Therapeutics price target lowered to $10 from $30 at Maxim

Maxim lowered the firm’s price target on Dermata Therapeutics (DRMA) to $10 from $30 and keeps a Buy rating on the shares. The company’s Q2 results saw operating expenses below the firm’s estimate and GAAP loss per share narrower than its estimate, though Maxim is cutting its price target to reflect the share dilution from an anticipated capital raise, the analyst tells investors in a research note.