Dermata Therapeutics price target lowered to $6 from $10 at Maxim

Maxim lowered the firm’s price target on Dermata Therapeutics to $6 from $10 and keeps a Buy rating on the shares. Earlier this month, Dermata announced that it has enrolled over 50% of the patients in its Phase 3 STAR-1 clinical trial, the analyst says. The firm expects enrollment and the last patient visit to be completed in early 1Q25, with top-line results to follow 4-5 weeks later, on track.