Journey Medical Co. (NASDAQ:DERM) Short Interest Update

Journey Medical Co. (NASDAQ:DERM - Get Free Report) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 148,100 shares, a growth of 87.0% from the March 15th total of 79,200 shares. Approximately 2.5% of the company's shares are short sold. Based on an average daily volume of 187,000 shares, the short-interest ratio is currently 0.8 days.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners initiated coverage on Journey Medical in a report on Friday, February 16th. They set a "buy" rating and a $8.50 price target on the stock.

Insider Transactions at Journey Medical

In other Journey Medical news, Director Lindsay A. Md Rosenwald purchased 10,000 shares of the company's stock in a transaction that occurred on Monday, March 25th. The stock was bought at an average price of $3.04 per share, with a total value of $30,400.00. Following the completion of the purchase, the director now directly owns 144,245 shares of the company's stock, valued at approximately $438,504.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Lindsay A. Md Rosenwald purchased 10,000 shares of the company's stock in a transaction that occurred on Monday, March 25th. The shares were bought at an average price of $3.04 per share, for a total transaction of $30,400.00. Following the purchase, the director now directly owns 144,245 shares in the company, valued at approximately $438,504.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Justin Adam Smith bought 30,000 shares of the firm's stock in a transaction on Friday, March 22nd. The stock was acquired at an average cost of $3.47 per share, with a total value of $104,100.00. Following the transaction, the director now owns 134,717 shares in the company, valued at approximately $467,467.99. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 50,000 shares of company stock worth $169,300. Insiders own 19.42% of the company's stock.

Institutional Investors Weigh In On Journey Medical

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Journey Medical by 78.1% in the fourth quarter. Vanguard Group Inc. now owns 129,448 shares of the company's stock valued at $746,000 after buying an additional 56,781 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Journey Medical in the 4th quarter valued at $153,000. Northern Trust Corp purchased a new stake in Journey Medical during the 4th quarter worth about $96,000. Finally, Citadel Advisors LLC purchased a new position in shares of Journey Medical in the 4th quarter valued at about $65,000. Institutional investors and hedge funds own 7.25% of the company's stock.

Journey Medical Stock Performance

DERM stock traded down $0.07 during trading on Thursday, reaching $4.31. 295,717 shares of the company traded hands, compared to its average volume of 199,266. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $85.91 million, a P/E ratio of -12.46 and a beta of 0.80. The company's 50 day moving average price is $3.91. Journey Medical has a 12 month low of $1.02 and a 12 month high of $8.11.

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 acne; Targadox, an oral doxycycline drug for adjunctive therapy for severe acne; Zilxi, a topical minocycline treatment for inflammatory lesions; Ximino, an oral minocycline drug for the treatment of moderate to severe acne; and Exelderm cream and solution for topical use.

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