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

Journey Medical (NASDAQ:DERM) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other brokerages also recently commented on DERM. HC Wainwright restated a “buy” rating and issued a $13.00 price objective on shares of Journey Medical in a research report on Thursday, March 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Journey Medical in a research report on Monday, April 20th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.00.

Journey Medical Price Performance

Shares of NASDAQ:DERM opened at $6.34 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.72 and a debt-to-equity ratio of 0.74. The company 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 52 week low of $4.31 and a 52 week high of $9.56. The company has a 50-day moving average price of $5.57 and a 200 day moving average price of $6.99.

Journey Medical (NASDAQ:DERM) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The firm 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%. Research analysts predict that Journey Medical will post 0.17 earnings per share for the current year.

Institutional Trading of Journey Medical

A number of institutional investors have recently bought and sold shares of the company. Wasatch Advisors LP raised its position in 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 acquiring an additional 817,095 shares during the last quarter. Opaleye Management Inc. raised its position in Journey Medical by 0.4% during the fourth quarter. Opaleye Management Inc. now owns 975,000 shares of the company’s stock worth $7,517,000 after acquiring an additional 3,936 shares during the last quarter. J. Goldman & Co LP acquired a new position in Journey Medical during the fourth quarter worth about $6,155,000. Vanguard Group Inc. raised its position in Journey Medical by 8.9% during the third quarter. Vanguard Group Inc. now owns 615,229 shares of the company’s stock worth $4,380,000 after acquiring an additional 50,241 shares during the last quarter. Finally, Pale Fire Capital SE raised its position in Journey Medical by 8.4% during the first quarter. Pale Fire Capital SE now owns 481,987 shares of the company’s stock worth $2,261,000 after acquiring an additional 37,345 shares during the last quarter. 7.25% of the stock is currently owned by hedge funds and other institutional investors.

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.