Brighton Jones LLC Lowers Stock Holdings in Journey Medical Corporation $DERM

Brighton Jones LLC trimmed its holdings in shares of Journey Medical Corporation (NASDAQ:DERM) by 26.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 16,820 shares of the company’s stock after selling 6,200 shares during the period. Brighton Jones LLC owned approximately 0.07% of Journey Medical worth $121,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Focus Partners Advisor Solutions LLC purchased a new position in Journey Medical during the second quarter valued at $72,000. Titleist Asset Management LLC raised its position in shares of Journey Medical by 18.3% in the 1st quarter. Titleist Asset Management LLC now owns 12,900 shares of the company’s stock worth $76,000 after purchasing an additional 2,000 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Journey Medical in the 1st quarter worth about $110,000. Finally, Pale Fire Capital SE purchased a new position in shares of Journey Medical in the 1st quarter worth about $161,000. Hedge funds and other institutional investors own 7.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Zacks Research raised Journey Medical from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Wall Street Zen cut shares of Journey Medical from a “buy” rating to a “hold” rating in a report on Sunday, July 6th. Lake Street Capital boosted their price objective on shares of Journey Medical from $9.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. HC Wainwright started coverage on shares of Journey Medical in a report on Monday, August 25th. They issued a “buy” rating and a $13.00 price objective for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Journey Medical in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Journey Medical presently has a consensus rating of “Hold” and an average target price of $12.17.

Journey Medical Price Performance

Shares of DERM opened at $8.12 on Friday. The firm has a market cap of $213.64 million, a PE ratio of -21.37 and a beta of 0.79. The company has a current ratio of 1.27, a quick ratio of 0.95 and a debt-to-equity ratio of 1.11. The firm has a fifty day simple moving average of $7.34 and a two-hundred day simple moving average of $7.20. Journey Medical Corporation has a 1-year low of $3.54 and a 1-year high of $8.90.

Journey Medical (NASDAQ:DERM) last announced its earnings results 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). The company had revenue of $15.01 million for the quarter, compared to analysts’ expectations of $14.93 million. Journey Medical had a negative net margin of 15.49% and a negative return on equity of 48.69%. On average, equities analysts anticipate that Journey Medical Corporation will post -1.02 EPS 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.