Focus Partners Advisor Solutions LLC Acquires Shares of 10,000 Journey Medical Corporation $DERM

Focus Partners Advisor Solutions LLC acquired a new stake in Journey Medical Corporation (NASDAQ:DERM) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $72,000.

A number of other hedge funds have also modified their holdings of the stock. Pale Fire Capital SE bought a new position in shares of Journey Medical during the 1st quarter worth approximately $161,000. Jane Street Group LLC acquired a new position in Journey Medical during the first quarter worth $110,000. Finally, Titleist Asset Management LLC lifted its holdings in shares of Journey Medical by 18.3% during the first quarter. Titleist Asset Management LLC now owns 12,900 shares of the company’s stock valued at $76,000 after acquiring an additional 2,000 shares during the period. 7.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Journey Medical Price Performance

DERM opened at $8.12 on Friday. Journey Medical Corporation 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 company’s 50 day simple moving average is $7.34 and its 200-day simple moving average is $7.20. The stock has a market capitalization of $213.64 million, a P/E ratio of -21.37 and a beta of 0.79.

Journey Medical (NASDAQ:DERM) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The company 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%. Sell-side analysts anticipate that Journey Medical Corporation will post -1.02 earnings per share for the current fiscal 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.