Journey Medical's (DERM) Buy Rating Reiterated at B. Riley Financial

Key Points

• B. Riley reaffirmed its Buy rating on Journey Medical but lowered its price target from $15 to $13; the new target implies 201.62% upside from the stock’s current price.
• Analyst views are mixed: two analysts rate the stock Buy and one rates it Sell, resulting in a MarketBeat consensus of Hold and an average $13 price target.
• Journey Medical missed quarterly expectations, reporting a loss of $0.05 per share versus the $0.02 loss forecast and revenue of $18.97 million versus an estimated $20.32 million.

Journey Medical (NASDAQ:DERM - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at B. Riley Financial in a research note issued to investors on Friday, Benzinga reports. They currently have a $13.00 price target on the stock, down from their previous price target of $15.00. B. Riley Financial's target price would indicate a potential upside of 201.62% from the stock's current price.

DERM has been the subject of a number of other research reports. Weiss Ratings restated a "sell (d-)" rating on shares of Journey Medical in a research report on Thursday, October 15th. HC Wainwright restated a "buy" rating and issued a $13.00 price target on shares of Journey Medical in a report on Monday, October 26th. Finally, Wall Street Zen lowered Journey Medical from a "buy" rating to a "hold" rating in a research note on Saturday, October 17th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Journey Medical has a consensus rating of "Hold" and an average price target of $13.00.

Journey Medical Stock Down 1.8%

Shares of NASDAQ DERM opened at $4.31 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. The firm has a market cap of $121.63 million, a price-to-earnings ratio of -19.57 and a beta of 1.14. The business's 50 day moving average is $5.96 and its two-hundred day moving average is $6.49. Journey Medical has a 52-week low of $4.25 and a 52-week high of $9.56.

Journey Medical (NASDAQ:DERM - Get Free Report) last issued its quarterly earnings results on Thursday, November 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.03). Journey Medical had a negative return on equity of 20.23% and a negative net margin of 8.95%. The business had revenue of $18.97 million for the quarter, compared to analyst estimates of $20.32 million. Research analysts predict that Journey Medical will post -0.13 EPS for the current year.

Institutional Trading of Journey Medical

Hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP raised its holdings in Journey Medical by 34.0% in the second quarter. Wasatch Advisors LP now owns 2,858,930 shares of the company's stock valued at $20,241,000 after acquiring an additional 725,560 shares in the last quarter. Punch & Associates Investment Management Inc. acquired a new position in Journey Medical during the 2nd quarter worth $3,795,000. Pale Fire Capital SE grew its holdings in Journey Medical by 9.7% during the 2nd quarter. Pale Fire Capital SE now owns 528,584 shares of the company's stock worth $3,742,000 after acquiring an additional 46,597 shares in the last quarter. First Eagle Investment Management LLC bought a new stake in shares of Journey Medical in the 3rd quarter worth about $3,305,000. Finally, J. Goldman & Co LP bought a new stake in shares of Journey Medical in the 2nd quarter worth about $974,000. Institutional investors and hedge funds own 7.25% of the company's stock.

About Journey Medical

Journey Medical Corporation is a commercial-stage pharmaceutical company focused on developing and marketing prescription treatments for dermatological conditions. Founded in 2014 and based in Scottsdale, Arizona, the company primarily serves the U.S. market. Its portfolio includes treatments for conditions such as acne, rosacea, excessive underarm sweating and fungal skin infections. Products include Amzeeq and Zilxi, topical minocycline therapies; Qbrexza, a topical treatment for primary axillary hyperhidrosis; and the oral rosacea treatment Emrosi.

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