Journey Medical Corporation (NASDAQ:DERM) Receives $12.17 Average Price Target from 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 been given a consensus rating of "Moderate Buy" by the four analysts that are covering the company, Marketbeat Ratings reports. One investment 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.

A number of research firms recently commented on DERM. Wall Street Zen downgraded Journey Medical from a "buy" rating to a "hold" rating in a report on Sunday, July 6th. HC Wainwright assumed coverage on shares of Journey Medical in a research note on Monday, August 25th. They set a "buy" rating and a $13.00 price objective for the company. Lake Street Capital boosted their target price on shares of Journey Medical from $9.00 to $13.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Finally, Zacks Research downgraded shares of Journey Medical from a "hold" rating to a "strong sell" rating in a research report on Friday, August 15th.

Journey Medical Stock Performance

DERM stock traded up $0.19 during trading on Friday, reaching $7.24. The company had a trading volume of 18,366 shares, compared to its average volume of 112,048. Journey Medical has a twelve month low of $3.54 and a twelve month high of $8.90. The firm has a 50-day simple moving average of $7.29 and a 200-day simple moving average of $6.83. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.95 and a current ratio of 1.27. The company has a market cap of $190.48 million, a price-to-earnings ratio of -19.05 and a beta of 0.80.

Journey Medical (NASDAQ:DERM - Get Free Report) last posted 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). 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 analyst estimates of $14.93 million. As a group, sell-side analysts expect that Journey Medical will post -1.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Journey Medical by 3.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 338,050 shares of the company's stock valued at $1,994,000 after purchasing an additional 9,938 shares during the period. Citadel Advisors LLC acquired a new position in Journey Medical in the 4th quarter valued at $174,000. Pale Fire Capital SE acquired a new stake in shares of Journey Medical in the first quarter valued at about $161,000. Tang Capital Management LLC acquired a new stake in Journey Medical in the 4th quarter valued at about $6,747,000. Finally, Cetera Investment Advisers raised its holdings 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 during the last quarter. 7.25% of the stock is owned by institutional investors and hedge funds.

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.