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

Shares of Journey Medical Corporation (NASDAQ:DERM) have been assigned an average rating of “Hold” from the five research firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $12.1667.

Several analysts recently issued reports 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 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Journey Medical in a research report on Wednesday. Zacks Research cut shares of Journey Medical from a “hold” rating to a “strong sell” rating in a research report on Friday, August 15th. Wall Street Zen downgraded shares of Journey Medical from a “buy” rating to a “hold” rating in a report on Sunday, July 6th. Finally, Lake Street Capital lifted their target price on Journey Medical from $9.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th.

Institutional Trading of Journey Medical

A number of large investors have recently added to or reduced their stakes in DERM. Wasatch Advisors LP increased its holdings in shares of Journey Medical by 23.8% in the 2nd quarter. Wasatch Advisors LP now owns 1,152,059 shares of the company’s stock worth $8,272,000 after buying an additional 221,456 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Journey Medical by 130.7% in the 2nd quarter. Geode Capital Management LLC now owns 262,353 shares of the company’s stock worth $1,884,000 after buying an additional 148,612 shares during the last quarter. Sheets Smith Investment Management bought a new stake in shares of Journey Medical in the 3rd quarter worth about $946,000. Pale Fire Capital SE bought a new stake in Journey Medical during the first quarter worth approximately $161,000. Finally, Opaleye Management Inc. increased its stake 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 acquiring an additional 25,677 shares during the last quarter. Institutional investors own 7.25% of the company’s stock.

Journey Medical Price Performance

NASDAQ DERM opened at $7.21 on Wednesday. Journey Medical has a 12 month low of $3.54 and a 12 month high of $8.90. The stock has a market cap of $189.70 million, a price-to-earnings ratio of -18.97 and a beta of 0.79. The company’s 50 day moving average is $7.27 and its two-hundred day moving average is $7.05. 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 quarterly earnings data on Tuesday, August 12th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The firm had revenue of $15.01 million for the quarter, compared to the consensus estimate of $14.93 million. Journey Medical had a negative net margin of 15.49% and a negative return on equity of 48.69%. As a group, research analysts anticipate that Journey Medical will post -1.02 earnings per share for the current year.

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.