Journey Medical (NASDAQ:DERM) Stock Price Down 1.2% - What's Next?

Key Points

• Journey Medical shares fell 1.2% to $6.37, with trading volume down 69% versus the average session. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed: two analysts rate the stock Buy, one Hold and one Sell. The consensus rating is Hold, with an average price target of $13.00.
• The company reported a quarterly loss of $0.08 per share, slightly missing estimates, though revenue of $15.96 million exceeded expectations. Journey Medical continues to post negative profitability metrics, including a 14.82% net margin and 35.57% negative return on equity.

Journey Medical Corporation (NASDAQ:DERM - Get Free Report)'s stock price dropped 1.2% during trading on Friday . The stock traded as low as $6.20 and last traded at $6.37. Approximately 47,040 shares traded hands during trading, a decline of 69% from the average session volume of 150,089 shares. The stock had previously closed at $6.45.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Journey Medical from a "hold" rating to a "buy" rating in a report on Saturday, June 13th. Weiss Ratings restated a "sell (d-)" rating on shares of Journey Medical in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Journey Medical currently has an average rating of "Hold" and an average target price of $13.00.

Journey Medical Stock Down 1.2%

The business has a 50 day moving average of $6.53 and a 200 day moving average of $6.74. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.72 and a quick ratio of 1.47. The firm has a market capitalization of $175.37 million, a price-to-earnings ratio of -17.22 and a beta of 1.07.

Journey Medical (NASDAQ:DERM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.01). The business had revenue of $15.96 million for the quarter, compared to analyst estimates of $15.47 million. Journey Medical had a negative return on equity of 35.57% and a negative net margin of 14.82%. On average, equities analysts anticipate that Journey Medical Corporation will post 0.17 EPS for the current year.

Institutional Trading of Journey Medical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in Journey Medical by 4,707.0% during the second quarter. Bank of America Corp DE now owns 4,134 shares of the company's stock valued at $30,000 after purchasing an additional 4,048 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Journey Medical in the 2nd quarter worth approximately $36,000. Royal Bank of Canada raised its holdings in shares of Journey Medical by 42.7% in the 1st quarter. Royal Bank of Canada now owns 8,175 shares of the company's stock worth $38,000 after buying an additional 2,446 shares in the last quarter. JPMorgan Chase & Co. bought a new position in shares of Journey Medical during the 2nd quarter worth approximately $41,000. Finally, Cetera Investment Advisers bought a new position in shares of Journey Medical during the 1st quarter worth approximately $48,000. Institutional investors own 7.25% of the company's stock.

About Journey Medical

Journey Medical Corp, headquartered in Fairfield, New Jersey, is a commercial dermatology company focused on acquiring, developing and marketing prescription dermatology products in the United States. Since its incorporation in 2019, the company has built a portfolio of both branded and generic topical therapies designed to address a range of skin conditions, including acne, atopic dermatitis, fungal infections and inflammatory lesions.

The company's product lineup features antibiotic/anti-inflammatory combinations and corticosteroid-based formulations delivered through proprietary gel, cream and foam vehicles.

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