Cetera Investment Advisers Has $54,000 Position in Journey Medical Co. (NASDAQ:DERM)

Cetera Investment Advisers raised its stake in shares of Journey Medical Co. (NASDAQ:DERM) by 21.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,839 shares of the company’s stock after buying an additional 2,478 shares during the period. Cetera Investment Advisers owned about 0.07% of Journey Medical worth $54,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Citadel Advisors LLC bought a new position in shares of Journey Medical during the 4th quarter valued at $174,000. Kovitz Investment Group Partners LLC raised its holdings in shares of Journey Medical by 112.9% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 24,710 shares of the company’s stock valued at $97,000 after purchasing an additional 13,105 shares in the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in shares of Journey Medical during the 4th quarter valued at $80,000. Institutional investors and hedge funds own 7.25% of the company’s stock.

Journey Medical Stock Down 3.1%

Shares of Journey Medical stock opened at $7.81 on Tuesday. The business’s 50 day simple moving average is $6.80 and its 200 day simple moving average is $5.57. Journey Medical Co. has a 52-week low of $3.54 and a 52-week high of $8.25. The firm has a market cap of $181.94 million, a PE ratio of -8.31 and a beta of 0.86. 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 (NASDAQ:DERM) last announced its earnings results on Wednesday, May 14th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.06. The business had revenue of $13.14 million during the quarter, compared to analysts’ expectations of $12.05 million. Journey Medical had a negative net margin of 31.74% and a negative return on equity of 132.10%. On average, analysts predict that Journey Medical Co. will post -1.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Journey Medical news, CEO Claude Maraoui sold 4,834 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $6.84, for a total value of $33,064.56. Following the transaction, the chief executive officer now directly owns 2,348,313 shares of the company’s stock, valued at $16,062,460.92. This trade represents a 0.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 90,014 shares of company stock valued at $467,222. 15.03% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Alliance Global Partners reiterated a “buy” rating on shares of Journey Medical in a report on Thursday, May 15th. Industrial Alliance Securities set a $10.50 price objective on Journey Medical in a research report on Thursday, March 27th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Journey Medical has an average rating of “Buy” and an average target price of $9.88.

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.