Journey Medical Corporation (NASDAQ:DERM) Given Average Rating of "Hold" by Analysts

Key Points

• Journey Medical Corporation (NASDAQ: DERM) has an average rating of "Hold" from five research firms, with two analysts recommending a sell and three a buy.
• The company reported a quarterly earnings per share (EPS) of ($0.16), missing the consensus estimate by ($0.09), but generated revenue of $15.01 million, surpassing expectations.
• Institutional investors have shown increased interest in the company, with Wasatch Advisors raising its position by 23.8% in the second quarter, now holding over 1.15 million shares.

Journey Medical Corporation (NASDAQ:DERM - Get Free Report) has received an average rating of "Hold" from the five research firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $12.1667.

A number of research firms have commented on DERM. Lake Street Capital upped their price target on Journey Medical from $9.00 to $13.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. HC Wainwright initiated coverage on Journey Medical in a report on Monday, August 25th. They set a "buy" rating and a $13.00 target price for the company. Wall Street Zen downgraded Journey Medical from a "buy" rating to a "hold" rating in a report on Sunday, July 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Journey Medical in a research note on Saturday, September 27th. Finally, Zacks Research downgraded shares of Journey Medical from a "hold" rating to a "strong sell" rating in a research note on Friday, August 15th.

Journey Medical Trading Up 3.6%

NASDAQ:DERM opened at $7.55 on Wednesday. The company has a fifty day moving average of $7.26 and a 200 day moving average of $7.04. Journey Medical has a 52 week low of $3.54 and a 52 week high of $8.90. The company has a quick ratio of 0.95, a current ratio of 1.27 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $198.64 million, a P/E ratio of -19.87 and a beta of 0.79.

Journey Medical (NASDAQ:DERM - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The firm had revenue of $15.01 million for the quarter, compared to the consensus estimate of $14.93 million. Journey Medical had a negative net margin of 15.49% and a negative return on equity of 48.69%. On average, research analysts predict that Journey Medical will post -1.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DERM. Wasatch Advisors LP raised its position in shares of Journey Medical by 23.8% in the 2nd quarter. Wasatch Advisors LP now owns 1,152,059 shares of the company's stock worth $8,272,000 after acquiring an additional 221,456 shares in the last quarter. Geode Capital Management LLC raised its holdings in Journey Medical by 130.7% in the second quarter. Geode Capital Management LLC now owns 262,353 shares of the company's stock worth $1,884,000 after purchasing an additional 148,612 shares in the last quarter. Pale Fire Capital SE bought a new position in shares of Journey Medical in the 1st quarter worth about $161,000. Opaleye Management Inc. increased its stake in shares of Journey Medical by 37.0% in the 2nd quarter. Opaleye Management Inc. now owns 95,000 shares of the company's stock worth $682,000 after acquiring an additional 25,677 shares in the last quarter. Finally, Creative Planning increased its stake in shares of Journey Medical by 178.5% in the 2nd quarter. Creative Planning now owns 32,764 shares of the company's stock worth $235,000 after acquiring an additional 21,000 shares in the last quarter. Institutional investors own 7.25% of the company's stock.

About Journey Medical

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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