Analyst Fabian Piasta of Jefferies maintained a Buy rating on Dermapharm Holding SE (DMP – Research Report), retaining the price target of €49.00.
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Fabian Piasta has given his Buy rating due to a combination of factors influencing Dermapharm Holding SE’s performance. The company’s first-quarter results for 2025 showed a modest revenue increase of 1% year-over-year, reaching €303 million, despite facing challenging comparisons and undergoing reorganization at Arkopharma. Management has confirmed the full-year guidance, which appears attainable with expected sales variations between -2% and +2%, and an anticipated improvement in margins due to a shift in product mix and reductions in full-time employees in the PI segment.
Excluding vaccine sales, the Branded Pharmaceuticals segment experienced a 6% year-over-year growth, driven by positive international developments, although the Other Healthcare Products segment saw a 3% decline. The Parallel Import segment grew by 7%, aligning with the company’s strategy to focus on higher-margin products. Despite a decrease in adjusted EBITDA by 8% to €81.3 million, with a margin of 26.9%, the Branded Pharmaceuticals margin returned to its target range, and the Other Healthcare Products margin remained stable. These factors collectively support the Buy rating, as the company is positioned to achieve its financial targets while enhancing profitability.
According to TipRanks, Piasta is a 5-star analyst with an average return of 30.4% and a 93.10% success rate.