Journey Medical (NASDAQ:DERM) Stock Moved Down to "Hold" by Wall Street Zen

Key Points

• Wall Street Zen downgraded Journey Medical (NASDAQ: DERM) from “Buy” to “Hold.” With two Buy ratings and one Sell rating, analysts’ consensus is “Hold,” with an average price target of $14.00.
• Journey Medical reported quarterly EPS of a $0.01 loss, beating expectations by $0.01, while revenue of $18.51 million slightly exceeded forecasts. Analysts expect a full-year loss of $0.02 per share.
• The stock opened at $4.97, near its 52-week low of $4.31, while institutional investors made several purchases in the second quarter; institutions collectively own 7.25% of the company.

Journey Medical (NASDAQ:DERM - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

DERM has been the topic of several other reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Journey Medical in a research report on Thursday. B. Riley Financial restated a "buy" rating and set a $15.00 target price (up from $12.00) on shares of Journey Medical in a report on Thursday, August 13th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $14.00.

Journey Medical Price Performance

DERM opened at $4.97 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.59 and a debt-to-equity ratio of 0.64. Journey Medical has a fifty-two week low of $4.31 and a fifty-two week high of $9.56. The business has a 50-day moving average of $6.86 and a 200-day moving average of $6.31.

Journey Medical (NASDAQ:DERM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. The business had revenue of $18.51 million during the quarter, compared to analysts' expectations of $18.36 million. Journey Medical had a negative return on equity of 20.23% and a negative net margin of 8.95%. Equities research analysts anticipate that Journey Medical will post -0.02 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Punch & Associates Investment Management Inc. acquired a new stake in shares of Journey Medical in the second quarter valued at about $3,795,000. J. Goldman & Co LP bought a new position in shares of Journey Medical in the second quarter worth about $974,000. Wasatch Advisors LP increased its stake in shares of Journey Medical by 34.0% in the second quarter. Wasatch Advisors LP now owns 2,858,930 shares of the company's stock worth $20,241,000 after purchasing an additional 725,560 shares during the period. BlackRock Inc. acquired a new position in shares of Journey Medical during the 2nd quarter worth about $715,000. Finally, Susquehanna International Group LLP lifted its position in shares of Journey Medical by 57.2% during the 2nd quarter. Susquehanna International Group LLP now owns 20,001 shares of the company's stock worth $142,000 after purchasing an additional 7,280 shares during the last quarter. Institutional investors own 7.25% of the company's stock.

About Journey Medical

Journey Medical Corporation NASDAQ: DERM is a commercial-stage pharmaceutical company focused on developing, acquiring and commercializing prescription therapies for medical dermatology. The company's portfolio is intended to address conditions treated by dermatologists, including hyperhidrosis, acne, fungal skin infections and inflammatory skin disorders.

Journey Medical's marketed products include Qbrexza (glycopyrronium tosylate) cloth for primary axillary hyperhidrosis, Targadox (doxycycline hyclate) capsules for moderate-to-severe inflammatory lesions associated with acne vulgaris, and Exelderm (sulconazole nitrate) cream and solution for certain fungal skin infections.

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