Journey Medical (NASDAQ:DERM) Earns Sell (D-) Rating from Weiss Ratings

Key Points

• Journey Medical received a "sell (D-)" rating from Weiss Ratings, indicating a negative outlook from analysts.
• Recent ratings from brokerages show a trend of downgrades, with several companies adjusting their outlook, resulting in an average rating of "Hold" with a consensus target price of $12.17.
• In the latest quarterly earnings, Journey Medical reported a loss of ($0.16) EPS, missing the consensus estimate and showcasing a negative return on equity of 48.69%.

Journey Medical (NASDAQ:DERM - Get Free Report)'s stock had its "sell (d-)" rating reiterated by investment analysts at Weiss Ratings in a note issued to investors on Friday,Weiss Ratings reports.

Several other brokerages also recently weighed in on DERM. Wall Street Zen downgraded Journey Medical from a "buy" rating to a "hold" rating in a research report on Sunday, July 6th. HC Wainwright initiated coverage on Journey Medical in a research report on Monday, August 25th. They set a "buy" rating and a $13.00 price objective for the company. Lake Street Capital upped their price objective on Journey Medical from $9.00 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Finally, Zacks Research raised Journey Medical from a "strong sell" rating to a "hold" rating in a report on Monday, October 13th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Journey Medical presently has an average rating of "Hold" and a consensus target price of $12.17.

Journey Medical Price Performance

Shares of DERM stock opened at $7.46 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.27 and a debt-to-equity ratio of 1.11. Journey Medical has a twelve month low of $3.54 and a twelve month high of $8.90. The company has a market cap of $196.27 million, a P/E ratio of -19.63 and a beta of 0.79. The business has a fifty day simple moving average of $7.25 and a 200 day simple moving average of $7.12.

Journey Medical (NASDAQ:DERM - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.16) earnings per share 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 business had revenue of $15.01 million for the quarter, compared to the consensus estimate of $14.93 million. On average, sell-side analysts forecast that Journey Medical will post -1.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Journey Medical

A number of institutional investors and hedge funds have recently bought and sold shares of DERM. Wasatch Advisors LP increased its holdings in Journey Medical by 23.8% in the 2nd quarter. Wasatch Advisors LP now owns 1,152,059 shares of the company's stock worth $8,272,000 after purchasing an additional 221,456 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Journey Medical by 130.7% in the second quarter. Geode Capital Management LLC now owns 262,353 shares of the company's stock valued at $1,884,000 after buying an additional 148,612 shares during the period. Sheets Smith Investment Management acquired a new stake in shares of Journey Medical in the third quarter valued at about $946,000. Pale Fire Capital SE acquired a new stake in shares of Journey Medical in the first quarter valued at about $161,000. Finally, Opaleye Management Inc. increased its stake in shares of Journey Medical by 37.0% in the second quarter. Opaleye Management Inc. now owns 95,000 shares of the company's stock valued at $682,000 after buying an additional 25,677 shares during the period. Institutional investors and hedge funds own 7.25% of the company's stock.

Journey Medical Company Profile

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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