Journey Medical (NASDAQ:DERM) Trading Down 3.5% – Should You Sell?

Shares of Journey Medical Corporation (NASDAQ:DERM) dropped 3.5% during mid-day trading on Tuesday . The company traded as low as $7.80 and last traded at $7.81. Approximately 56,428 shares were traded during trading, a decline of 47% from the average daily volume of 106,739 shares. The stock had previously closed at $8.09.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Journey Medical in a research report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $12.17.

Journey Medical Trading Down 3.5%

The business’s fifty day moving average is $8.13 and its 200-day moving average is $7.80. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.12 and a current ratio of 1.42. The firm has a market cap of $259.76 million, a P/E ratio of -22.31 and a beta of 0.81.

Hedge Funds Weigh In On Journey Medical

A number of hedge funds have recently modified their holdings of DERM. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Journey Medical in the second quarter worth $29,000. Bank of America Corp DE lifted its holdings in Journey Medical by 4,707.0% during the 2nd quarter. Bank of America Corp DE now owns 4,134 shares of the company’s stock worth $30,000 after buying an additional 4,048 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Journey Medical in the 2nd quarter valued at about $36,000. JPMorgan Chase & Co. bought a new stake in shares of Journey Medical in the 2nd quarter valued at about $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Journey Medical in the second quarter valued at about $48,000. 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.