Journey Medical (NASDAQ:DERM – Get Free Report)‘s stock had its “buy” rating reiterated by equities research analysts at B. Riley Financial in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $15.00 price target on the stock, up from their prior price target of $12.00. B. Riley Financial’s price objective would suggest a potential upside of 133.28% from the company’s current price.
DERM has been the topic of several other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Journey Medical in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Journey Medical from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $14.00.
Get Our Latest Analysis on Journey Medical
Journey Medical Price Performance
Journey Medical (NASDAQ:DERM – Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Journey Medical had a negative net margin of 14.82% and a negative return on equity of 35.57%. The business had revenue of $18.51 million for the quarter, compared to analyst estimates of $18.36 million. On average, research analysts expect that Journey Medical will post 0.17 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of DERM. Wasatch Advisors LP grew its position in shares of Journey Medical by 62.1% during the 1st quarter. Wasatch Advisors LP now owns 2,133,370 shares of the company’s stock worth $10,006,000 after buying an additional 817,095 shares during the period. UBS Group AG boosted its holdings in Journey Medical by 99.9% in the fourth quarter. UBS Group AG now owns 290,226 shares of the company’s stock worth $2,238,000 after acquiring an additional 145,006 shares in the last quarter. Persistent Asset Partners Ltd acquired a new stake in Journey Medical in the second quarter valued at approximately $71,000. Walleye Capital LLC acquired a new position in shares of Journey Medical during the second quarter worth approximately $463,000. Finally, Bank of America Corp DE lifted its holdings in shares of Journey Medical by 198.1% in the 1st quarter. Bank of America Corp DE now owns 32,206 shares of the company’s stock worth $151,000 after purchasing an additional 21,401 shares in the last quarter. Institutional investors and hedge funds own 7.25% of the company’s stock.
Journey Medical Company Profile
Journey Medical Corp, headquartered in Fairfield, New Jersey, is a commercial dermatology company focused on acquiring, developing and marketing prescription dermatology products in the United States. Since its incorporation in 2019, the company has built a portfolio of both branded and generic topical therapies designed to address a range of skin conditions, including acne, atopic dermatitis, fungal infections and inflammatory lesions.
The company’s product lineup features antibiotic/anti-inflammatory combinations and corticosteroid-based formulations delivered through proprietary gel, cream and foam vehicles.
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