Journey Medical (NASDAQ:DERM) Stock Rating Reaffirmed as "Buy" by HC Wainwright

Key Points

• HC Wainwright reaffirmed a “Buy” rating on Journey Medical with a $13 price target, implying 158.96% upside from the previous close.
• Analyst sentiment is mixed: two analysts rate the stock “Buy” and one rates it “Sell,” resulting in a consensus “Hold” rating and a $14 average price target.
• Journey Medical’s latest quarter modestly exceeded expectations, reporting revenue of $18.51 million and an EPS loss of $0.01, while the stock opened at $5.02 and has a negative net margin.

Journey Medical (NASDAQ:DERM - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at HC Wainwright in a note issued to investors on Monday, Benzinga reports. They presently have a $13.00 price target on the stock. HC Wainwright's price target points to a potential upside of 158.96% from the company's previous close.

Other research analysts also recently issued reports about the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Journey Medical in a research report on Thursday, October 15th. Wall Street Zen lowered shares of Journey Medical from a "buy" rating to a "hold" rating in a research report on Saturday, October 17th. Finally, B. Riley Financial reaffirmed a "buy" rating and set a $15.00 price target (up from $12.00) on shares of Journey Medical in a research note on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $14.00.

Journey Medical Stock Performance

Shares of NASDAQ DERM opened at $5.02 on Monday. The stock has a market capitalization of $141.66 million, a PE ratio of -22.82 and a beta of 1.10. Journey Medical has a twelve month low of $4.31 and a twelve month high of $9.56. The company has a current ratio of 1.59, a quick ratio of 1.41 and a debt-to-equity ratio of 0.64. The stock has a fifty day simple moving average of $6.71 and a 200-day simple moving average of $6.33.

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

Hedge Funds Weigh In On Journey Medical

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wasatch Advisors LP increased its position in shares of Journey Medical by 34.0% during the second quarter. Wasatch Advisors LP now owns 2,858,930 shares of the company's stock worth $20,241,000 after acquiring an additional 725,560 shares during the last quarter. Punch & Associates Investment Management Inc. bought a new position in shares of Journey Medical during the second quarter valued at approximately $3,795,000. J. Goldman & Co LP acquired a new stake in Journey Medical in the second quarter worth $974,000. BlackRock Inc. bought a new stake in Journey Medical in the second quarter valued at $715,000. Finally, Walleye Capital LLC acquired a new position in Journey Medical during the 2nd quarter valued at about $463,000. Hedge funds and other institutional investors own 7.25% of the company's stock.

About Journey Medical

Journey Medical Corporation is a commercial-stage pharmaceutical company focused on developing and commercializing prescription products for medical dermatology. The company targets conditions that affect the skin, hair and nails, with an emphasis on products that address significant patient needs and can be marketed through its specialty sales organization.

Its portfolio includes Qbrexza (glycopyrronium) cloth, a topical treatment for primary axillary hyperhidrosis, and Targadox (doxycycline hyclate) delayed-release capsules, which are used to treat moderate-to-severe inflammatory acne vulgaris.