Journey Medical (NASDAQ:DERM) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Journey Medical (NASDAQ:DERM - Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other brokerages have also recently weighed in on DERM. Alliance Global Partners restated a "buy" rating on shares of Journey Medical in a research note on Thursday, May 15th. Industrial Alliance Securities set a $10.50 target price on shares of Journey Medical in a research report on Thursday, March 27th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $9.88.

Journey Medical Stock Performance

Shares of Journey Medical stock traded down $0.19 on Friday, reaching $6.78. The stock had a trading volume of 71,022 shares, compared to its average volume of 81,840. The business's 50-day moving average price is $6.96 and its two-hundred day moving average price is $5.68. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.38. Journey Medical has a fifty-two week low of $3.54 and a fifty-two week high of $8.25. The stock has a market cap of $157.95 million, a P/E ratio of -7.21 and a beta of 0.87.

Journey Medical (NASDAQ:DERM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.18) earnings per share for the quarter, topping analysts' consensus estimates of ($0.24) by $0.06. Journey Medical had a negative net margin of 31.74% and a negative return on equity of 132.10%. The business had revenue of $13.14 million during the quarter, compared to analysts' expectations of $12.05 million. On average, sell-side analysts forecast that Journey Medical will post -1.02 EPS for the current year.

Insider Buying and Selling

In other Journey Medical news, CEO Claude Maraoui sold 4,834 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $6.84, for a total value of $33,064.56. Following the sale, the chief executive officer now owns 2,348,313 shares of the company's stock, valued at $16,062,460.92. The trade was a 0.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 15.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Journey Medical

Several institutional investors and hedge funds have recently bought and sold shares of DERM. Cetera Investment Advisers increased its holdings in Journey Medical by 21.8% in the 4th quarter. Cetera Investment Advisers now owns 13,839 shares of the company's stock valued at $54,000 after buying an additional 2,478 shares during the period. Titleist Asset Management LLC increased its holdings in Journey Medical by 18.3% in the 1st quarter. Titleist Asset Management LLC now owns 12,900 shares of the company's stock valued at $76,000 after buying an additional 2,000 shares during the period. Dimensional Fund Advisors LP bought a new stake in Journey Medical in the 4th quarter valued at $80,000. Kovitz Investment Group Partners LLC increased its holdings in Journey Medical by 112.9% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 24,710 shares of the company's stock valued at $97,000 after buying an additional 13,105 shares during the period. Finally, Jane Street Group LLC bought a new stake in Journey Medical in the 1st quarter valued at $110,000. Institutional investors own 7.25% of the company's stock.

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.