Journey Medical Corporation (NASDAQ:DERM) Receives Consensus Rating of “Hold” from Analysts

Journey Medical Corporation (NASDAQ:DERM) has been given an average rating of “Hold” by the four brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $13.00.

DERM has been the topic of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Journey Medical in a report on Monday, April 20th. HC Wainwright restated a “buy” rating and set a $13.00 price target on shares of Journey Medical in a report on Thursday, March 26th.

Institutional Trading of Journey Medical

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Salem Investment Counselors Inc. grew its holdings in shares of Journey Medical by 18.2% during the fourth quarter. Salem Investment Counselors Inc. now owns 14,300 shares of the company’s stock worth $110,000 after purchasing an additional 2,200 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Journey Medical by 42.7% during the first quarter. Royal Bank of Canada now owns 8,175 shares of the company’s stock worth $38,000 after purchasing an additional 2,446 shares during the last quarter. Occudo Quantitative Strategies LP boosted its holdings in Journey Medical by 22.3% in the fourth quarter. Occudo Quantitative Strategies LP now owns 18,913 shares of the company’s stock valued at $146,000 after acquiring an additional 3,443 shares during the last quarter. Opaleye Management Inc. boosted its holdings in Journey Medical by 0.4% in the fourth quarter. Opaleye Management Inc. now owns 975,000 shares of the company’s stock valued at $7,517,000 after acquiring an additional 3,936 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Journey Medical by 4,707.0% in the second quarter. Bank of America Corp DE now owns 4,134 shares of the company’s stock valued at $30,000 after acquiring an additional 4,048 shares during the last quarter. 7.25% of the stock is currently owned by institutional investors.

Journey Medical Stock Up 0.3%

DERM stock opened at $6.17 on Thursday. The company has a market cap of $168.63 million, a PE ratio of -16.68 and a beta of 1.03. The business has a 50-day simple moving average of $5.71 and a 200 day simple moving average of $7.25. Journey Medical has a 52 week low of $4.31 and a 52 week high of $9.56. The company has a quick ratio of 1.47, a current ratio of 1.72 and a debt-to-equity ratio of 0.74.

Journey Medical (NASDAQ:DERM) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The company had revenue of $15.96 million during the quarter, compared to analyst estimates of $15.47 million. Journey Medical had a negative net margin of 14.82% and a negative return on equity of 35.57%. Sell-side analysts anticipate that Journey Medical will post 0.17 EPS for the current fiscal year.

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.