Journey Medical Corporation (NASDAQ:DERM) Given Consensus Recommendation of “Hold” by Brokerages

Journey Medical Corporation (NASDAQ:DERM) has received an average recommendation of “Hold” from the five brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $12.1667.

DERM has been the subject of a number of recent analyst reports. Zacks Research upgraded Journey Medical from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Journey Medical in a research note on Wednesday, January 21st.

Journey Medical Stock Down 3.7%

DERM opened at $8.04 on Tuesday. The company has a fifty day moving average of $8.01 and a two-hundred day moving average of $7.71. The stock has a market capitalization of $267.41 million, a price-to-earnings ratio of -22.97 and a beta of 0.81. Journey Medical has a fifty-two week low of $4.74 and a fifty-two week high of $9.56. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.12 and a current ratio of 1.42.

Journey Medical (NASDAQ:DERM) last posted its earnings results on Wednesday, November 12th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The business had revenue of $17.63 million for the quarter, compared to analyst estimates of $18.85 million. Journey Medical had a negative net margin of 14.58% and a negative return on equity of 39.94%. On average, research analysts expect that Journey Medical will post -1.02 earnings per share for the current year.

Hedge Funds Weigh In On Journey Medical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Salem Investment Counselors Inc. grew its holdings in shares of Journey Medical by 18.2% in the fourth quarter. Salem Investment Counselors Inc. now owns 14,300 shares of the company’s stock valued at $110,000 after purchasing an additional 2,200 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Journey Medical in the 2nd quarter valued at approximately $29,000. Bank of America Corp DE grew its stake in shares of Journey Medical by 4,707.0% in the 2nd quarter. Bank of America Corp DE now owns 4,134 shares of the company’s stock valued at $30,000 after buying an additional 4,048 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Journey Medical during the 2nd quarter worth approximately $36,000. Finally, Pale Fire Capital SE raised its position in shares of Journey Medical by 19.0% during the 2nd quarter. Pale Fire Capital SE now owns 32,458 shares of the company’s stock valued at $233,000 after buying an additional 5,184 shares during the period. Institutional investors and hedge funds own 7.25% of the company’s stock.

Journey Medical Company Profile

Journey Medical Corp, headquartered in Fairfield, New Jersey, is a commercial dermatology company focused on acquiring, developing and marketing prescription dermatology products in the United States. Since its incorporation in 2019, the company has built a portfolio of both branded and generic topical therapies designed to address a range of skin conditions, including acne, atopic dermatitis, fungal infections and inflammatory lesions.

The company’s product lineup features antibiotic/anti-inflammatory combinations and corticosteroid-based formulations delivered through proprietary gel, cream and foam vehicles.