Maxim analyst Anthony Vendetti lowered the firm’s price target on Dermata Therapeutics (DRMA) to $3 from $6 and keeps a Buy rating on the shares. The firm notes the company’s Q1 operating expenses were below its estimates while also citing its statistically significant positive topline data from STAR-1 study, though its adjusted model reflects Dermata’s anticipated capital raise, the analyst tells investors in a research note.
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Read More on DRMA:
- Dermata Faces Nasdaq Delisting Risk Over Bid Price
- Dermata Reports Positive Phase 3 Trial Results
- Dermata Therapeutics reports Q1 EPS (45c) vs. ($7.06) last year
- Dermata Therapeutics sees cash runway into 1Q26
- Optimistic Buy Rating for Dermata Therapeutics Driven by Promising Phase 3 Trial Results and Strong Financial Position
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