Journey Medical Co. (NASDAQ:DERM) Sees Large Growth in Short Interest

Journey Medical Co. (NASDAQ:DERM - Get Free Report) was the recipient of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 235,500 shares, an increase of 59.0% from the March 31st total of 148,100 shares. Currently, 3.5% of the company's shares are sold short. Based on an average daily trading volume, of 171,700 shares, the days-to-cover ratio is currently 1.4 days.

Analyst Upgrades and Downgrades

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

Journey Medical Stock Down 2.9 %

Shares of DERM stock traded down $0.10 on Friday, hitting $3.40. The company had a trading volume of 64,845 shares, compared to its average volume of 168,242. The stock has a market capitalization of $67.76 million, a price-to-earnings ratio of -9.71 and a beta of 0.80. The company's 50-day simple moving average is $3.72. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.72. Journey Medical has a twelve month low of $1.02 and a twelve month high of $8.11.

Journey Medical (NASDAQ:DERM - Get Free Report) last issued its quarterly earnings data on Thursday, March 21st. The company reported ($0.12) earnings per share (EPS) for the quarter. The company had revenue of $15.26 million during the quarter, compared to analyst estimates of $15.80 million. Journey Medical had a negative net margin of 4.87% and a negative return on equity of 34.08%. Equities research analysts expect that Journey Medical will post -0.83 EPS for the current year.

Insider Transactions at Journey Medical

In other news, CEO Claude Maraoui acquired 10,000 shares of the company's stock in a transaction that occurred on Friday, March 22nd. The shares were bought at an average price of $3.48 per share, with a total value of $34,800.00. Following the completion of the purchase, the chief executive officer now directly owns 2,163,430 shares in the company, valued at $7,528,736.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Claude Maraoui acquired 10,000 shares of the company's stock in a transaction that occurred on Friday, March 22nd. The shares were bought at an average price of $3.48 per share, with a total value of $34,800.00. Following the completion of the purchase, the chief executive officer now directly owns 2,163,430 shares in the company, valued at $7,528,736.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Justin Adam Smith acquired 30,000 shares of the company's stock in a transaction that occurred on Friday, March 22nd. The stock was purchased at an average cost of $3.47 per share, for a total transaction of $104,100.00. Following the purchase, the director now owns 134,717 shares of the company's stock, valued at $467,467.99. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 50,000 shares of company stock worth $169,300. 19.42% of the stock is currently owned by company insiders.

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.