Short Interest in Journey Medical Co. (NASDAQ:DERM) Rises By 68.0%

Journey Medical Co. (NASDAQ:DERM - Get Free Report) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totalling 252,100 shares, a growth of 68.0% from the March 31st total of 150,100 shares. Based on an average trading volume of 73,800 shares, the days-to-cover ratio is presently 3.4 days. Currently, 2.7% of the shares of the stock are short sold.

Journey Medical Stock Performance

NASDAQ:DERM traded down $0.04 on Tuesday, reaching $7.54. 61,173 shares of the company's stock were exchanged, compared to its average volume of 81,269. Journey Medical has a 52 week low of $3.20 and a 52 week high of $7.84. The firm has a market cap of $174.20 million, a price-to-earnings ratio of -8.02 and a beta of 0.90. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.38 and a quick ratio of 1.03. The stock has a fifty day simple moving average of $5.99 and a 200-day simple moving average of $5.33.

Journey Medical (NASDAQ:DERM - Get Free Report) last announced its earnings results on Wednesday, March 26th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.30. Journey Medical had a negative net margin of 31.74% and a negative return on equity of 132.10%. The business had revenue of $14.30 million during the quarter, compared to analyst estimates of $14.21 million. As a group, sell-side analysts predict that Journey Medical will post -1.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Alliance Global Partners reaffirmed a "buy" rating on shares of Journey Medical in a report on Thursday, March 27th. Industrial Alliance Securities set a $10.50 target price on Journey Medical in a report on Thursday, March 27th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Journey Medical has a consensus rating of "Buy" and an average target price of $9.88.

Insider Buying and Selling at Journey Medical

In other news, CEO Claude Maraoui sold 49,271 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $5.01, for a total transaction of $246,847.71. Following the completion of the transaction, the chief executive officer now directly owns 2,003,147 shares in the company, valued at $10,035,766.47. This represents a 2.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 105,831 shares of company stock worth $536,622. 13.16% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in DERM. Cetera Investment Advisers increased its stake in shares of Journey Medical by 21.8% in the fourth quarter. Cetera Investment Advisers now owns 13,839 shares of the company's stock worth $54,000 after buying an additional 2,478 shares during the period. Dimensional Fund Advisors LP bought a new stake in shares of Journey Medical during the 4th quarter valued at about $80,000. Kovitz Investment Group Partners LLC lifted its holdings in Journey Medical by 112.9% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 24,710 shares of the company's stock worth $97,000 after buying an additional 13,105 shares during the period. Citadel Advisors LLC purchased a new stake in Journey Medical in the fourth quarter worth about $174,000. Finally, Geode Capital Management LLC lifted its holdings in Journey Medical by 13.5% in the third quarter. Geode Capital Management LLC now owns 108,435 shares of the company's stock worth $613,000 after buying an additional 12,882 shares during the period. 7.25% of the stock is owned by hedge funds and other institutional investors.

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.

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