Atria Investments Inc Lowers Stock Position in Journey Medical Corporation $DERM

Atria Investments Inc decreased its position in Journey Medical Corporation (NASDAQ:DERM) by 16.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,185 shares of the company’s stock after selling 7,474 shares during the period. Atria Investments Inc owned about 0.16% of Journey Medical worth $267,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Titleist Asset Management LLC boosted its position in Journey Medical by 18.3% during the first 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 in the last quarter. Focus Partners Advisor Solutions LLC acquired a new position in shares of Journey Medical during the 2nd quarter worth approximately $72,000. Jane Street Group LLC purchased a new position in shares of Journey Medical during the 1st quarter valued at approximately $110,000. Finally, Pale Fire Capital SE purchased a new position in shares of Journey Medical during the 1st quarter valued at approximately $161,000. 7.25% of the stock is owned by hedge funds and other institutional investors.

Journey Medical Price Performance

Journey Medical stock opened at $9.08 on Thursday. The company’s 50 day simple moving average is $7.62 and its 200-day simple moving average is $7.32. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.95 and a current ratio of 1.27. Journey Medical Corporation has a 1 year low of $3.54 and a 1 year high of $9.40. The company has a market capitalization of $238.89 million, a price-to-earnings ratio of -23.89 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.09). Journey Medical had a negative net margin of 15.49% and a negative return on equity of 48.69%. The firm had revenue of $15.01 million during the quarter, compared to analysts’ expectations of $14.93 million. As a group, equities research analysts expect that Journey Medical Corporation will post -1.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on DERM. 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 for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Journey Medical in a research report on Wednesday, October 8th. Zacks Research raised Journey Medical from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Lake Street Capital lifted their target price 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 investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.17.

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.