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

Journey Medical Corporation (NASDAQ:DERM) has earned an average recommendation of “Hold” from the four ratings firms 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 issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $13.00.

Several research analysts recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 target price on shares of Journey Medical in a research report on Thursday, March 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Journey Medical in a research note on Monday, April 20th. Finally, Wall Street Zen upgraded Journey Medical from a “hold” rating to a “buy” rating in a report on Saturday.

Hedge Funds Weigh In On Journey Medical

A number of hedge funds have recently made changes to their positions in DERM. Wasatch Advisors LP lifted its stake in shares of Journey Medical by 62.1% during the first quarter. Wasatch Advisors LP now owns 2,133,370 shares of the company’s stock worth $10,006,000 after purchasing an additional 817,095 shares in the last quarter. Opaleye Management Inc. increased its position in shares of Journey Medical by 0.4% in the 4th quarter. Opaleye Management Inc. now owns 975,000 shares of the company’s stock worth $7,517,000 after purchasing an additional 3,936 shares during the last quarter. J. Goldman & Co LP bought a new stake in Journey Medical in the fourth quarter valued at about $6,155,000. Vanguard Group Inc. increased its holdings in shares of Journey Medical by 8.9% in the 3rd quarter. Vanguard Group Inc. now owns 615,229 shares of the company’s stock valued at $4,380,000 after acquiring an additional 50,241 shares during the last quarter. Finally, Pale Fire Capital SE raised its position in shares of Journey Medical by 8.4% during the 1st quarter. Pale Fire Capital SE now owns 481,987 shares of the company’s stock valued at $2,261,000 after acquiring an additional 37,345 shares in the last quarter. Hedge funds and other institutional investors own 7.25% of the company’s stock.

Journey Medical Stock Performance

Shares of DERM stock opened at $6.34 on Monday. The firm has a market cap of $174.54 million, a P/E ratio of -17.13 and a beta of 1.09. Journey Medical has a 1-year low of $4.31 and a 1-year high of $9.56. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.72 and a quick ratio of 1.47. The firm’s 50-day simple moving average is $5.57 and its 200-day simple moving average is $6.99.

Journey Medical (NASDAQ:DERM) last released its earnings results on Wednesday, May 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Journey Medical had a negative net margin of 14.82% and a negative return on equity of 35.57%. The company had revenue of $15.96 million during the quarter, compared to analysts’ expectations of $15.47 million. As a group, equities analysts forecast that Journey Medical will post 0.17 EPS for the current year.

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.