Journey Medical Corporation (NASDAQ:DERM) Receives Average Recommendation of “Hold” from Analysts

Shares of Journey Medical Corporation (NASDAQ:DERM) have received a consensus recommendation of “Hold” from the four brokerages that are covering the company, Marketbeat.com reports. One investment 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 target price among brokers that have covered the stock in the last year is $13.00.

DERM has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Journey Medical in a research note on Monday, April 20th. Wall Street Zen upgraded shares of Journey Medical from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Finally, HC Wainwright reissued a “buy” rating and issued a $13.00 price target on shares of Journey Medical in a research note on Thursday, March 26th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. UBS Group AG raised its position in Journey Medical by 99.9% in the fourth quarter. UBS Group AG now owns 290,226 shares of the company’s stock valued at $2,238,000 after purchasing an additional 145,006 shares during the period. Wasatch Advisors LP grew its holdings in shares of Journey Medical by 62.1% during the 1st 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 during the period. Salem Investment Counselors Inc. increased its position in shares of Journey Medical by 18.2% during the 4th 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. Ikarian Capital LLC acquired a new stake in shares of Journey Medical during the 4th quarter worth about $1,939,000. Finally, Geode Capital Management LLC raised its holdings in Journey Medical by 130.7% in the 2nd quarter. Geode Capital Management LLC now owns 262,353 shares of the company’s stock valued at $1,884,000 after buying an additional 148,612 shares during the period. 7.25% of the stock is currently owned by hedge funds and other institutional investors.

Journey Medical Stock Performance

Shares of NASDAQ DERM opened at $7.00 on Friday. The company’s fifty day moving average price is $6.15 and its 200 day moving average price is $6.83. Journey Medical has a 1 year low of $4.31 and a 1 year high of $9.56. The company has a market capitalization of $192.71 million, a PE ratio of -18.92 and a beta of 1.07. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.47 and a current ratio of 1.72.

Journey Medical (NASDAQ:DERM) last announced 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). The business had revenue of $15.96 million for the quarter, compared to analysts’ expectations of $15.47 million. Journey Medical had a negative net margin of 14.82% and a negative return on equity of 35.57%. On average, research analysts predict that Journey Medical will post 0.17 earnings per share 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.