Journey Medical (NASDAQ:DERM) Shares Down 1.6% - What's Next?

Shares of Journey Medical Co. (NASDAQ:DERM - Get Free Report) were down 1.6% during mid-day trading on Wednesday . The company traded as low as $7.26 and last traded at $7.42. Approximately 67,531 shares traded hands during trading, a decline of 17% from the average daily volume of 80,906 shares. The stock had previously closed at $7.54.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Industrial Alliance Securities set a $10.50 price target on Journey Medical in a report on Thursday, March 27th. Alliance Global Partners reiterated a "buy" rating on shares of Journey Medical in a report on Thursday, March 27th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $9.88.

Journey Medical Stock Performance

The stock has a market capitalization of $158.96 million, a P/E ratio of -7.32 and a beta of 0.90. The stock has a 50 day simple moving average of $6.11 and a two-hundred day simple moving average of $5.36. The company has a quick ratio of 1.03, a current ratio of 1.38 and a debt-to-equity ratio of 1.81.

Journey Medical (NASDAQ:DERM - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.30. The firm had revenue of $14.30 million for the quarter, compared to analyst estimates of $14.21 million. Journey Medical had a negative net margin of 31.74% and a negative return on equity of 132.10%. On average, equities analysts forecast that Journey Medical Co. will post -1.02 EPS for the current fiscal year.

Insider Buying and Selling at Journey Medical

In related news, CEO Claude Maraoui sold 49,271 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $5.01, for a total transaction of $246,847.71. Following the transaction, the chief executive officer now directly owns 2,003,147 shares of the company's stock, valued at approximately $10,035,766.47. The trade was a 2.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 105,831 shares of company stock worth $536,622 over the last 90 days. Company insiders own 13.16% of the company's stock.

Hedge Funds Weigh In On Journey Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DERM. Cetera Investment Advisers boosted its holdings in shares of Journey Medical by 21.8% during the 4th quarter. Cetera Investment Advisers now owns 13,839 shares of the company's stock worth $54,000 after buying an additional 2,478 shares during the period. Dimensional Fund Advisors LP bought a new stake in shares of Journey Medical during the fourth quarter worth approximately $80,000. Kovitz Investment Group Partners LLC grew its position in shares of 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 during the last quarter. Citadel Advisors LLC bought a new position in shares of Journey Medical during the fourth quarter worth approximately $174,000. Finally, Geode Capital Management LLC lifted its holdings in Journey Medical by 13.5% during the 3rd quarter. Geode Capital Management LLC now owns 108,435 shares of the company's stock worth $613,000 after purchasing an additional 12,882 shares during the last quarter. 7.25% of the stock is owned by institutional investors.

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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