Piper Jaffray reiterated a Neutral rating on Derma Sciences (NASDAQ: DSCI), and cut the price target to $6.00 (from $7.00), following the company's 3Q earnings report. Derma Sciences reported net earnings per share of ($0.35), beating consensus of ($0.43), on revenues of $22M (vs. Street's 22.31M).

Analyst David Amsellem commented, "Derma Sciences reported net earnings per share of ($0.35) on revenues of $22M. Sales from the Advanced Wound Care (AWC) and Traditional Wound Care (TWC) segments grew by 21% and 5%, respectively over 3Q14 on a local currency basis. Regarding aclerastide in diabetic foot ulcers (DFU), though management continues to take steps to accelerate the rate of enrollment for the Phase III trials, the rate of patient accrual has nonetheless remained sluggish, and the timeline to the completion of the studies remains murky in our view. Given this backdrop, combined with a lack of visibility on strong growth from the base business, we believe that the potential for meaningful value creation is limited for the foreseeable future for DSCI. We reiterate our Neutral rating and are lowering our PT to $6 from $7 (see below for more details)."

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Shares of Derma Sciences closed at $5.56 yesterday.