Tang Capital Management LLC acquired a new stake in Journey Medical Co. (NASDAQ:DERM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,725,569 shares of the company's stock, valued at approximately $6,747,000. Tang Capital Management LLC owned approximately 8.26% of Journey Medical at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers increased its position in Journey Medical by 21.8% in the 4th quarter. Cetera Investment Advisers now owns 13,839 shares of the company's stock valued at $54,000 after acquiring an additional 2,478 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Journey Medical in the 4th quarter valued at $80,000. Kovitz Investment Group Partners LLC increased its stake in shares of Journey Medical by 112.9% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 24,710 shares of the company's stock valued at $97,000 after buying an additional 13,105 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in shares of Journey Medical in the 4th quarter valued at $174,000. Institutional investors and hedge funds own 7.25% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have recently commented on DERM shares. Alliance Global Partners reissued a "buy" rating on shares of Journey Medical in a research note on Thursday, May 15th. Industrial Alliance Securities set a $10.50 price target on shares of Journey Medical in a research report on Thursday, March 27th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Journey Medical presently has a consensus rating of "Buy" and an average target price of $9.88.
View Our Latest Stock Report on DERM
Journey Medical Trading Up 1.9%
Shares of NASDAQ:DERM traded up $0.13 during trading on Tuesday, hitting $6.88. 72,046 shares of the company's stock were exchanged, compared to its average volume of 83,810. Journey Medical Co. has a 1-year low of $3.20 and a 1-year high of $8.24. The firm has a 50-day moving average price of $6.50 and a two-hundred day moving average price of $5.43. The company has a current ratio of 1.38, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81. The firm has a market cap of $158.96 million, a P/E ratio of -7.32 and a beta of 0.86.
Journey Medical (NASDAQ:DERM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.06. Journey Medical had a negative net margin of 31.74% and a negative return on equity of 132.10%. The company had revenue of $13.14 million during the quarter, compared to analysts' expectations of $12.05 million. Equities analysts predict that Journey Medical Co. will post -1.02 earnings per share for the current year.
Insider Activity at Journey Medical
In related news, CEO Claude Maraoui sold 18,147 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $5.13, for a total transaction of $93,094.11. Following the completion of the transaction, the chief executive officer now owns 2,092,874 shares in the company, valued at approximately $10,736,443.62. The trade was a 0.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 113,522 shares of company stock worth $589,229. 15.03% of the stock is currently owned by company insiders.
About Journey Medical
(
Free Report)
Journey Medical Corporation focuses on the development and commercialization of pharmaceutical products for the treatment of dermatological conditions in the United States. The company's marketed products include Qbrexza, a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Accutane, an oral isotretinoin drug to treat severe recalcitrant nodular acne; and Amzeeq, a topical formulation of minocycline for the treatment of inflammatory lesions of non-nodular moderate to severe acne vulgaris.
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