Journey Medical Corporation (NASDAQ:DERM) Receives Consensus Rating of “Hold” from Analysts

Shares of Journey Medical Corporation (NASDAQ:DERM) have received a consensus rating of “Hold” from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $12.1667.

Several analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Journey Medical in a research note on Wednesday, October 8th. Zacks Research raised Journey Medical from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Lake Street Capital lifted their price objective on Journey Medical from $9.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Finally, HC Wainwright assumed coverage on Journey Medical in a research report on Monday, August 25th. They set a “buy” rating and a $13.00 price objective for the company.

Journey Medical Price Performance

DERM opened at $9.19 on Friday. The stock’s 50-day moving average price is $7.46 and its 200 day moving average price is $7.26. Journey Medical has a 12-month low of $3.54 and a 12-month high of $9.30. The firm has a market cap of $241.79 million, a price-to-earnings ratio of -24.18 and a beta of 0.80. The company has a current ratio of 1.27, a quick ratio of 0.95 and a debt-to-equity ratio of 1.11.

Journey Medical (NASDAQ:DERM) last announced its earnings results on Tuesday, August 12th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.09). Journey Medical had a negative return on equity of 48.69% and a negative net margin of 15.49%.The business had revenue of $15.01 million for the quarter, compared to analysts’ expectations of $14.93 million. As a group, sell-side analysts expect that Journey Medical will post -1.02 earnings per share for the current year.

Institutional Investors Weigh In On Journey Medical

Several institutional investors have recently modified their holdings of DERM. Wasatch Advisors LP raised its position in shares of Journey Medical by 23.8% during the 2nd quarter. Wasatch Advisors LP now owns 1,152,059 shares of the company’s stock worth $8,272,000 after acquiring an additional 221,456 shares in the last quarter. Essex Investment Management Co. LLC boosted its holdings in Journey Medical by 55.1% in the third quarter. Essex Investment Management Co. LLC now owns 354,021 shares of the company’s stock valued at $2,521,000 after purchasing an additional 125,818 shares in the last quarter. Geode Capital Management LLC increased its stake in Journey Medical by 130.7% in the second quarter. Geode Capital Management LLC now owns 262,353 shares of the company’s stock valued at $1,884,000 after purchasing an additional 148,612 shares during the last quarter. Sheets Smith Investment Management acquired a new stake in Journey Medical during the third quarter worth approximately $946,000. Finally, Opaleye Management Inc. raised its holdings in Journey Medical by 37.0% during the second quarter. Opaleye Management Inc. now owns 95,000 shares of the company’s stock worth $682,000 after purchasing an additional 25,677 shares in the last quarter. 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.