Journey Medical Corporation (NASDAQ:DERM) Receives Average Recommendation of "Moderate Buy" from Brokerages

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Journey Medical Corporation (NASDAQ:DERM - Get Free Report) has been assigned an average rating of "Moderate Buy" from the four ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $10.8333.

A number of research firms recently commented on DERM. Wall Street Zen cut shares of Journey Medical from a "buy" rating to a "hold" rating in a report on Sunday, July 6th. Lake Street Capital reaffirmed a "buy" rating and issued a $13.00 price target (up previously from $9.00) on shares of Journey Medical in a report on Wednesday, August 13th. Zacks Research cut shares of Journey Medical from a "hold" rating to a "strong sell" rating in a report on Friday. Finally, Alliance Global Partners reissued a "buy" rating on shares of Journey Medical in a report on Thursday, May 15th.

Journey Medical Trading Up 0.7%

NASDAQ:DERM opened at $7.00 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 0.95 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $163.07 million, a PE ratio of -18.42 and a beta of 0.80. The firm's 50 day moving average is $7.15 and its 200 day moving average is $6.55. Journey Medical has a 12 month low of $3.54 and a 12 month high of $8.90.

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

Institutional Investors Weigh In On Journey Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Titleist Asset Management LLC raised its holdings in Journey Medical by 18.3% during the 1st quarter. Titleist Asset Management LLC now owns 12,900 shares of the company's stock valued at $76,000 after acquiring an additional 2,000 shares during the period. Cetera Investment Advisers increased its holdings in shares of Journey Medical by 21.8% in the fourth quarter. Cetera Investment Advisers now owns 13,839 shares of the company's stock worth $54,000 after purchasing an additional 2,478 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Journey Medical in the second quarter worth $29,000. Bank of America Corp DE increased its holdings in shares of Journey Medical by 4,707.0% in the second quarter. Bank of America Corp DE now owns 4,134 shares of the company's stock worth $30,000 after purchasing an additional 4,048 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Journey Medical in the second quarter worth $36,000. 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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