Brokerages Set Journey Medical Corporation (NASDAQ:DERM) Target Price at $12.17

Journey Medical Corporation (NASDAQ:DERM) has received an average recommendation of “Moderate Buy” from the four ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $12.1667.

A number of equities analysts have commented on DERM shares. HC Wainwright started coverage on Journey Medical in a research note on Monday, August 25th. They set a “buy” rating and a $13.00 price objective on the stock. Wall Street Zen lowered Journey Medical from a “buy” rating to a “hold” rating in a research note on Sunday, July 6th. Zacks Research lowered Journey Medical from a “hold” rating to a “strong sell” rating in a research note on Friday, August 15th. Finally, Lake Street Capital lifted their price target on Journey Medical from $9.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th.

Journey Medical Price Performance

Journey Medical stock opened at $7.12 on Friday. The stock’s fifty day moving average price is $7.28 and its two-hundred day moving average price is $6.83. Journey Medical has a one year low of $3.54 and a one year high of $8.90. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.27 and a quick ratio of 0.95. The firm has a market cap of $187.33 million, a PE ratio of -18.74 and a beta of 0.80.

Journey Medical (NASDAQ:DERM) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.16) EPS 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 company had revenue of $15.01 million for the quarter, compared to the consensus estimate of $14.93 million. As a group, research analysts expect that Journey Medical will post -1.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Journey Medical

Several hedge funds and other institutional investors have recently modified their holdings of DERM. Tang Capital Management LLC bought a new position in shares of Journey Medical in the 4th quarter valued at $6,747,000. Wasatch Advisors LP grew 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 last quarter. Geode Capital Management LLC grew its position in Journey Medical by 130.7% during the 2nd quarter. Geode Capital Management LLC now owns 262,353 shares of the company’s stock worth $1,884,000 after acquiring an additional 148,612 shares during the last quarter. Citadel Advisors LLC bought a new stake in Journey Medical during the 4th quarter worth $174,000. Finally, Pale Fire Capital SE bought a new stake in Journey Medical during the 1st quarter worth $161,000. Institutional investors own 7.25% of the company’s stock.

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.