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

Journey Medical Corporation (NASDAQ:DERM) has been given an average recommendation of “Hold” by the five ratings firms that are presently covering the stock, MarketBeat.com 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 12-month target price among brokerages that have issued ratings on the stock in the last year is $12.1667.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Journey Medical in a research note on Wednesday, January 21st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. J. Goldman & Co LP acquired a new position in shares of Journey Medical in the fourth quarter valued at approximately $6,155,000. Millennium Management LLC acquired a new stake in shares of Journey Medical during the fourth quarter worth $3,530,000. Ikarian Capital LLC purchased a new position in Journey Medical in the 4th quarter valued at $1,939,000. Wasatch Advisors LP increased its stake in Journey Medical by 23.8% in the 2nd quarter. Wasatch Advisors LP now owns 1,152,059 shares of the company’s stock valued at $8,272,000 after buying an additional 221,456 shares during the period. Finally, Geode Capital Management LLC raised its position in Journey Medical by 130.7% during the 2nd quarter. Geode Capital Management LLC now owns 262,353 shares of the company’s stock worth $1,884,000 after buying an additional 148,612 shares during the last quarter. 7.25% of the stock is currently owned by hedge funds and other institutional investors.

Journey Medical Trading Down 1.0%

DERM opened at $7.77 on Friday. The firm has a market cap of $258.43 million, a price-to-earnings ratio of -22.20 and a beta of 0.81. Journey Medical has a 52 week low of $4.97 and a 52 week high of $9.56. The business’s 50 day moving average is $8.12 and its two-hundred day moving average is $7.80. The company has a quick ratio of 1.12, a current ratio of 1.42 and a debt-to-equity ratio of 0.75.

About Journey Medical

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.