Journey Medical (NASDAQ:DERM) Now Covered by HC Wainwright

HC Wainwright assumed coverage on shares of Journey Medical (NASDAQ:DERM) in a report published on Monday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $13.00 price objective on the stock.

Other equities research analysts have also issued reports about the company. Zacks Research lowered Journey Medical from a “hold” rating to a “strong sell” rating in a research note on Friday, August 15th. Lake Street Capital raised their price target on Journey Medical from $9.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. Alliance Global Partners reissued a “buy” rating on shares of Journey Medical in a research note on Thursday, May 15th. Finally, Wall Street Zen lowered Journey Medical from a “buy” rating to a “hold” rating in a research note on Sunday, July 6th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.17.

Journey Medical Stock Performance

NASDAQ:DERM opened at $7.40 on Monday. The stock has a 50-day simple moving average of $7.17 and a two-hundred day simple moving average of $6.63. Journey Medical has a 52-week low of $3.54 and a 52-week high of $8.90. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.95 and a current ratio of 1.27. The firm has a market capitalization of $180.41 million, a PE ratio of -19.47 and a beta of 0.80.

Journey Medical (NASDAQ:DERM) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $14.93 million. Analysts forecast that Journey Medical will post -1.02 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DERM. Wasatch Advisors LP lifted its position in 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 during the period. Opaleye Management Inc. lifted its position in Journey Medical by 37.0% during the 2nd quarter. Opaleye Management Inc. now owns 95,000 shares of the company’s stock worth $682,000 after acquiring an additional 25,677 shares during the period. Bank of America Corp DE lifted its position in Journey Medical by 4,707.0% during the 2nd quarter. Bank of America Corp DE now owns 4,134 shares of the company’s stock worth $30,000 after acquiring an additional 4,048 shares during the period. Raymond James Financial Inc. acquired a new stake in Journey Medical during the 2nd quarter worth about $36,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Journey Medical during the 2nd quarter worth about $48,000. 7.25% of the stock is currently owned by hedge funds and other institutional investors.

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.