Journey Medical Corporation (NASDAQ:DERM) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Journey Medical Corporation (NASDAQ: DERM) has received an average rating of "Moderate Buy" from four brokerages, with a price target of $12.17 among analysts.
• Institutional investors have significantly increased their investments in Journey Medical, with notable increases from Bank of America Corp DE and others during the second quarter.
• The company's stock is currently trading at $7.11, reflecting a 3.3% decrease, and it reported a quarterly loss of ($0.16) EPS, missing estimates by ($0.09).

Shares of Journey Medical Corporation (NASDAQ:DERM - Get Free Report) have received an average rating of "Moderate Buy" from the four brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $12.1667.

DERM has been the subject of a number of recent research reports. Zacks Research cut shares of Journey Medical from a "hold" rating to a "strong sell" rating in a research note on Friday, August 15th. Wall Street Zen cut shares of Journey Medical from a "buy" rating to a "hold" rating in a research note on Sunday, July 6th. Lake Street Capital raised their price target on shares of Journey Medical from $9.00 to $13.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Finally, HC Wainwright initiated coverage on shares of Journey Medical in a research note on Monday, August 25th. They set a "buy" rating and a $13.00 price target for the company.

Institutional Investors Weigh In On Journey Medical

Several large investors have recently made changes to their positions in DERM. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Journey Medical in the 2nd quarter worth about $29,000. Bank of America Corp DE lifted its position in Journey Medical by 4,707.0% during the 2nd quarter. Bank of America Corp DE now owns 4,134 shares of the company's stock worth $30,000 after buying an additional 4,048 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Journey Medical during the 2nd quarter worth about $36,000. JPMorgan Chase & Co. acquired a new position in Journey Medical during the 2nd quarter valued at about $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Journey Medical during the 2nd quarter valued at about $48,000. Institutional investors own 7.25% of the company's stock.

Journey Medical Stock Performance

DERM stock traded down $0.12 on Friday, reaching $7.05. 77,461 shares of the company were exchanged, compared to its average volume of 112,591. Journey Medical has a 12 month low of $3.54 and a 12 month high of $8.90. The stock's fifty day moving average price is $7.29 and its 200 day moving average price is $6.83. The firm has a market capitalization of $185.49 million, a PE ratio of -18.55 and a beta of 0.80. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.27 and a quick ratio of 0.95.

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

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.