Journey Medical Corporation (NASDAQ:DERM) Short Interest Up 24.6% in May

Journey Medical Corporation (NASDAQ:DERM - Get Free Report) was the target of a significant increase in short interest in May. As of May 31st, there was short interest totalling 393,700 shares, an increase of 24.6% from the May 15th total of 316,000 shares. Based on an average daily volume of 96,000 shares, the days-to-cover ratio is currently 4.1 days. Currently, 4.4% of the company's shares are short sold.

Insiders Place Their Bets

In other Journey Medical news, CEO Claude Maraoui sold 4,834 shares of Journey Medical stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $6.84, for a total value of $33,064.56. Following the completion of the sale, the chief executive officer now directly owns 2,348,313 shares in the company, valued at approximately $16,062,460.92. The trade was a 0.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 15.03% of the stock is currently owned by corporate insiders.

Institutional Trading of Journey Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Titleist Asset Management LLC raised its stake in shares of 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 purchasing an additional 2,000 shares during the period. Cetera Investment Advisers grew its holdings in shares of Journey Medical by 21.8% during 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 in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Journey Medical by 3.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 338,050 shares of the company's stock worth $1,994,000 after purchasing an additional 9,938 shares during the last quarter. Kovitz Investment Group Partners LLC raised its stake in Journey Medical by 112.9% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 24,710 shares of the company's stock valued at $97,000 after purchasing an additional 13,105 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in Journey Medical during the first quarter valued at approximately $110,000. 7.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DERM has been the subject of several research reports. Alliance Global Partners reissued a "buy" rating on shares of Journey Medical in a research report on Thursday, May 15th. Industrial Alliance Securities set a $10.50 price objective on Journey Medical in a research report on Thursday, March 27th. Finally, Wall Street Zen cut Journey Medical from a "buy" rating to a "hold" rating in a research report on Saturday. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $9.88.

Journey Medical Stock Performance

Shares of DERM traded up $0.13 during mid-day trading on Wednesday, hitting $6.44. The stock had a trading volume of 80,448 shares, compared to its average volume of 81,885. The firm has a market cap of $149.94 million, a P/E ratio of -16.28 and a beta of 0.87. The business has a fifty day moving average price of $6.96 and a 200-day moving average price of $5.69. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.34 and a quick ratio of 1.03. Journey Medical has a 52 week low of $3.54 and a 52 week high of $8.25.

Journey Medical (NASDAQ:DERM - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.24) by $0.06. Journey Medical had a negative return on equity of 52.03% and a negative net margin of 14.76%. The company had revenue of $13.14 million for the quarter, compared to analyst estimates of $12.05 million. On average, equities research analysts expect that Journey Medical will post -1.02 EPS for the current 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.

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