Journey Medical (NASDAQ:DERM) Raised to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Journey Medical (NASDAQ:DERMFree Report) from a hold rating to a buy rating in a research note released on Saturday morning.

A number of other research analysts have also recently commented on DERM. Alliance Global Partners reaffirmed a “buy” rating on shares of Journey Medical in a research report on Thursday, May 15th. Industrial Alliance Securities set a $10.50 target price on shares of Journey Medical in a research report on Thursday, March 27th.

Get Our Latest Analysis on Journey Medical

Journey Medical Trading Up 2.0%

Shares of DERM stock opened at $7.14 on Friday. The company’s 50-day moving average price is $7.04 and its 200-day moving average price is $5.76. The company has a current ratio of 1.34, a quick ratio of 1.03 and a debt-to-equity ratio of 1.07. The stock has a market cap of $166.36 million, a price-to-earnings ratio of -18.31 and a beta of 0.87. Journey Medical has a twelve month low of $3.54 and a twelve month high of $8.25.

Journey Medical (NASDAQ:DERMGet Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.06. Journey Medical had a negative net margin of 14.76% and a negative return on equity of 52.03%. The firm had revenue of $13.14 million for the quarter, compared to analysts’ expectations of $12.05 million. As a group, equities analysts predict that Journey Medical will post -1.02 earnings per share for the current year.

Insider Buying and Selling at Journey Medical

In other news, CEO Claude Maraoui sold 4,834 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $6.84, for a total transaction of $33,064.56. Following the sale, the chief executive officer now owns 2,348,313 shares of the company’s stock, valued at approximately $16,062,460.92. This represents a 0.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.03% of the stock is currently owned by corporate insiders.

Institutional Trading of Journey Medical

Several hedge funds have recently made changes to their positions in the business. Jane Street Group LLC acquired a new stake in shares of Journey Medical during the first quarter worth about $110,000. Titleist Asset Management LLC lifted its position in shares of Journey Medical by 18.3% during the first quarter. Titleist Asset Management LLC now owns 12,900 shares of the company’s stock worth $76,000 after purchasing an additional 2,000 shares in the last quarter. Pale Fire Capital SE acquired a new stake in shares of Journey Medical during the first quarter worth about $161,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of Journey Medical by 3.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 338,050 shares of the company’s stock worth $1,994,000 after purchasing an additional 9,938 shares in the last quarter. Finally, Tang Capital Management LLC purchased a new stake in shares of Journey Medical during the fourth quarter worth approximately $6,747,000. Institutional investors and hedge funds own 7.25% of the company’s stock.

About Journey Medical

(Get Free Report)

Journey Medical Corporation focuses on the development and commercialization of pharmaceutical products for the treatment of dermatological conditions in the United States. The company's marketed products include Qbrexza, a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Accutane, an oral isotretinoin drug to treat severe recalcitrant nodular acne; and Amzeeq, a topical formulation of minocycline for the treatment of inflammatory lesions of non-nodular moderate to severe acne vulgaris.

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