Journey Medical Corporation (NASDAQ:DERM) Receives Average Rating of "Hold" from Analysts

Key Points

• Shares carry a consensus analyst rating of Hold from five brokers (1 sell, 1 hold, 3 buy) with an average 12‑month price target of $13.00.
• Institutional buying has picked up recently — Wasatch Advisors increased its stake by 62.1% to about 2.13 million shares (~$10.0M) and several firms (J. Goldman, Millennium, Ikarian, Geode) established or grew positions; institutional ownership is 7.25%.
• In the latest quarter Journey posted EPS of ($0.04), beating estimates by $0.02 but missing revenue, and the company has a market cap of ~$140.8M with a negative P/E (-10.96), negative net margin and negative ROE.

Shares of Journey Medical Corporation (NASDAQ:DERM - Get Free Report) have received a consensus rating of "Hold" from the five brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $13.00.

DERM has been the subject of a number of analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $13.00 target price on shares of Journey Medical in a research report on Thursday, March 26th. Weiss Ratings reissued a "sell (d-)" rating on shares of Journey Medical in a research report on Monday, April 20th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DERM. Wasatch Advisors LP grew its position in shares of Journey Medical by 62.1% in the 1st quarter. Wasatch Advisors LP now owns 2,133,370 shares of the company's stock valued at $10,006,000 after acquiring an additional 817,095 shares during the period. J. Goldman & Co LP bought a new position in shares of Journey Medical in the 4th quarter valued at about $6,155,000. Millennium Management LLC bought a new position in shares of Journey Medical in the 4th quarter valued at about $3,530,000. Ikarian Capital LLC bought a new position in shares of Journey Medical in the 4th quarter valued at about $1,939,000. Finally, Geode Capital Management LLC grew its position in shares of Journey Medical by 130.7% in the 2nd quarter. Geode Capital Management LLC now owns 262,353 shares of the company's stock valued at $1,884,000 after acquiring an additional 148,612 shares during the period. Institutional investors own 7.25% of the company's stock.

Journey Medical Stock Up 0.4%

Journey Medical stock opened at $5.15 on Friday. The company has a market cap of $140.75 million, a P/E ratio of -10.96 and a beta of 1.03. Journey Medical has a 1-year low of $4.31 and a 1-year high of $9.56. The company has a fifty day simple moving average of $6.59 and a 200 day simple moving average of $7.48. The company has a current ratio of 1.79, a quick ratio of 1.53 and a debt-to-equity ratio of 0.79.

Journey Medical (NASDAQ:DERM - Get Free Report) last released its earnings results on Wednesday, March 25th. The company reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.02. The business had revenue of $16.08 million during the quarter, compared to the consensus estimate of $18.86 million. Journey Medical had a negative net margin of 18.48% and a negative return on equity of 46.40%. Research analysts anticipate that Journey Medical will post 0.19 earnings per share for the current fiscal year.

About Journey Medical

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.

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