Journey Medical's (DERM) Buy Rating Reaffirmed at B. Riley Financial

Key Points

• B. Riley Financial reaffirmed its “Buy” rating on Journey Medical and raised its price target from $12 to $15, implying 133.28% potential upside from the stock’s $6.43 price.
• Analyst views remain mixed: two rate the stock Buy, one Hold and one Sell, resulting in a consensus “Hold” rating and a $14 average price target.
• Journey Medical slightly exceeded quarterly expectations, reporting an adjusted loss of $0.01 per share versus the $0.02 expected and revenue of $18.51 million versus $18.36 million anticipated.

Journey Medical (NASDAQ:DERM - Get Free Report)'s stock had its "buy" rating restated by analysts at B. Riley Financial in a report released on Thursday,Benzinga reports. They presently have a $15.00 price target on the stock, up from their previous price target of $12.00. B. Riley Financial's target price would suggest a potential upside of 133.28% from the stock's current price.

A number of other equities research analysts also recently weighed in on DERM. Weiss Ratings reiterated a "sell (d-)" rating on shares of Journey Medical in a research note on Friday, July 17th. Wall Street Zen raised shares of Journey Medical from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $14.00.

Journey Medical Stock Up 1.7%

DERM stock opened at $6.43 on Thursday. Journey Medical has a twelve month low of $4.31 and a twelve month high of $9.56. The company has a quick ratio of 1.47, a current ratio of 1.72 and a debt-to-equity ratio of 0.74. The company has a market cap of $177.02 million, a PE ratio of -17.38 and a beta of 1.08. The business's 50-day simple moving average is $6.58 and its 200 day simple moving average is $6.62.

Journey Medical (NASDAQ:DERM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. Journey Medical had a negative return on equity of 35.57% and a negative net margin of 14.82%.The firm had revenue of $18.51 million during the quarter, compared to analysts' expectations of $18.36 million. On average, research analysts anticipate that Journey Medical will post 0.17 earnings per share for the current year.

Hedge Funds Weigh In On Journey Medical

Several large investors have recently bought and sold shares of DERM. Bank of America Corp DE increased its holdings in Journey Medical by 4,707.0% in 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 during the last quarter. Raymond James Financial Inc. acquired a new stake in Journey Medical during the 2nd quarter worth $36,000. JPMorgan Chase & Co. acquired a new position in Journey Medical in the second quarter valued at about $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Journey Medical during the 2nd quarter valued at about $48,000. Finally, Royal Bank of Canada lifted its stake in Journey Medical by 42.7% in the first quarter. Royal Bank of Canada now owns 8,175 shares of the company's stock valued at $38,000 after buying an additional 2,446 shares in the last quarter. 7.25% of the stock is currently owned by institutional investors and hedge funds.

Journey Medical Company Profile

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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