Brokerages Set Journey Medical Corporation (NASDAQ:DERM) Price Target at $10.83

Key Points

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Journey Medical Corporation (NASDAQ:DERM - Get Free Report) has been given an average recommendation of "Hold" by the three analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $11.75.

DERM has been the subject of a number of recent analyst reports. Lake Street Capital raised their target price on Journey Medical from $9.00 to $13.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Zacks Research downgraded Journey Medical from a "hold" rating to a "strong sell" rating in a research note on Friday, August 15th. Wall Street Zen downgraded Journey Medical from a "buy" rating to a "hold" rating in a research note on Sunday, July 6th. Finally, Alliance Global Partners reaffirmed a "buy" rating on shares of Journey Medical in a research note on Thursday, May 15th.

Journey Medical Price Performance

Journey Medical stock traded up $0.39 during midday trading on Tuesday, reaching $7.47. The company's stock had a trading volume of 239,603 shares, compared to its average volume of 188,629. Journey Medical has a fifty-two week low of $3.54 and a fifty-two week high of $8.90. 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 stock's 50 day simple moving average is $7.16 and its 200 day simple moving average is $6.60. The firm has a market capitalization of $174.05 million, a PE ratio of -19.66 and a beta of 0.80.

Journey Medical (NASDAQ:DERM - Get Free Report) last released its 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). Journey Medical had a negative net margin of 15.49% and a negative return on equity of 48.69%. The business had revenue of $15.01 million during the quarter, compared to analyst estimates of $14.93 million. On average, equities research analysts forecast that Journey Medical will post -1.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DERM. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Journey Medical during the 2nd quarter worth $29,000. Bank of America Corp DE increased 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 purchasing an additional 4,048 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Journey Medical during the 2nd quarter worth about $36,000. JPMorgan Chase & Co. purchased a new stake in Journey Medical during the 2nd quarter worth about $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Journey Medical during the 2nd quarter worth about $48,000. Institutional investors and hedge funds 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.