HC Wainwright Reaffirms Buy Rating for Journey Medical (NASDAQ:DERM)

Key Points

• HC Wainwright reiterated a Buy rating on Journey Medical with a $13.00 price target, implying roughly a 90% upside from the current share price.
• Analysts are split — three Buys, one Hold and one Sell lead to an average rating of Hold and a consensus target of $12.17, while Weiss Ratings separately maintains a "sell (D-)" view.
• Shares opened at $6.83 with a market cap of about $227M and a negative P/E; institutional ownership is low at 7.25%, with Opaleye Management reported as the largest institutional holder (~975,000 shares).

Journey Medical (NASDAQ:DERM - Get Free Report)'s stock had its "buy" rating reiterated by HC Wainwright in a report released on Thursday,Benzinga reports. They presently have a $13.00 price target on the stock. HC Wainwright's price objective points to a potential upside of 90.34% from the company's current price.

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Journey Medical in a research report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $12.17.

Journey Medical Stock Down 1.2%

Shares of NASDAQ DERM opened at $6.83 on Thursday. The company has a current ratio of 1.42, a quick ratio of 1.12 and a debt-to-equity ratio of 0.75. The company has a market cap of $227.17 million, a price-to-earnings ratio of -19.51 and a beta of 0.81. Journey Medical has a 12 month low of $5.51 and a 12 month high of $9.56. The stock has a 50-day moving average price of $8.07 and a two-hundred day moving average price of $7.82.

Hedge Funds Weigh In On Journey Medical

Large investors have recently bought and sold shares of the company. Salem Investment Counselors Inc. boosted its stake in shares of Journey Medical by 18.2% during the fourth quarter. Salem Investment Counselors Inc. now owns 14,300 shares of the company's stock valued at $110,000 after purchasing an additional 2,200 shares in the last quarter. Occudo Quantitative Strategies LP increased its stake in shares of Journey Medical by 22.3% in the fourth quarter. Occudo Quantitative Strategies LP now owns 18,913 shares of the company's stock valued at $146,000 after buying an additional 3,443 shares during the period. Opaleye Management Inc. increased its stake in shares of Journey Medical by 0.4% in the fourth quarter. Opaleye Management Inc. now owns 975,000 shares of the company's stock valued at $7,517,000 after buying an additional 3,936 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new position in Journey Medical in the 2nd quarter valued at approximately $29,000. Finally, Bank of America Corp DE raised its holdings in Journey Medical by 4,707.0% in the 2nd quarter. Bank of America Corp DE now owns 4,134 shares of the company's stock valued at $30,000 after buying an additional 4,048 shares during the last quarter. 7.25% of the stock is currently owned by institutional investors.

Journey Medical Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.