Journey Medical (NASDAQ:DERM) Upgraded by Zacks Research to Hold Rating

Key Points

• Journey Medical has been upgraded by Zacks Research from a "strong sell" to a "hold" rating, alongside notable price target revisions from other firms.
• Shares of Journey Medical are currently trading at $7.20, with a 52-week range of $3.54 to $8.90, indicating recent market activity.
• During its last earnings report, the company reported a loss of ($0.16) per share, missing analysts' estimates, but showed revenue slightly above expectations at $15.01 million.

Journey Medical (NASDAQ:DERM - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

A number of other research firms also recently issued reports on DERM. Lake Street Capital boosted their price objective on shares of Journey Medical from $9.00 to $13.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. HC Wainwright began coverage on shares of Journey Medical in a report on Monday, August 25th. They set a "buy" rating and a $13.00 price target for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Journey Medical in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Journey Medical from a "buy" rating to a "hold" rating in a report on Sunday, July 6th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Journey Medical presently has a consensus rating of "Hold" and an average price target of $12.17.

Journey Medical Stock Up 2.9%

Shares of DERM opened at $7.20 on Monday. Journey Medical has a 52 week low of $3.54 and a 52 week high of $8.90. The firm has a market cap of $189.43 million, a P/E ratio of -18.95 and a beta of 0.79. The firm's 50-day simple moving average is $7.26 and its 200 day simple moving average is $7.07. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.95 and a current ratio of 1.27.

Journey Medical (NASDAQ:DERM - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.09). The business had revenue of $15.01 million during the quarter, compared to the consensus estimate of $14.93 million. Journey Medical had a negative net margin of 15.49% and a negative return on equity of 48.69%. On average, analysts forecast that Journey Medical will post -1.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DERM. Cambridge Investment Research Advisors Inc. lifted its position in shares of Journey Medical by 3.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 338,050 shares of the company's stock valued at $1,994,000 after purchasing an additional 9,938 shares in the last quarter. Pale Fire Capital SE bought a new stake in Journey Medical in the first quarter worth about $161,000. Titleist Asset Management LLC raised its position in Journey Medical by 18.3% in the first quarter. Titleist Asset Management LLC now owns 12,900 shares of the company's stock worth $76,000 after acquiring an additional 2,000 shares during the period. Jane Street Group LLC bought a new stake in Journey Medical in the first quarter worth about $110,000. Finally, Focus Partners Advisor Solutions LLC bought a new stake in Journey Medical in the second quarter worth about $72,000. 7.25% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.