Journey Medical Corporation (NASDAQ:DERM) Receives Average Recommendation of “Hold” from Analysts

Journey Medical Corporation (NASDAQ:DERM) has been given an average rating of “Hold” by the five brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $12.1667.

Several equities analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Journey Medical in a research report on Wednesday, October 8th. HC Wainwright assumed coverage on Journey Medical in a report on Monday, August 25th. They set a “buy” rating and a $13.00 price objective on the stock. Finally, Zacks Research raised Journey Medical from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th.

Journey Medical Stock Performance

NASDAQ DERM opened at $7.87 on Monday. The firm has a market cap of $213.59 million, a P/E ratio of -22.49 and a beta of 0.80. The company has a quick ratio of 1.12, a current ratio of 1.42 and a debt-to-equity ratio of 0.75. The company’s 50 day moving average is $7.91 and its 200-day moving average is $7.44. Journey Medical has a 12-month low of $3.54 and a 12-month high of $9.40.

Journey Medical (NASDAQ:DERM) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). Journey Medical had a negative return on equity of 39.94% and a negative net margin of 14.58%.The business had revenue of $17.63 million during the quarter, compared to the consensus estimate of $18.85 million. Sell-side analysts predict that Journey Medical will post -1.02 earnings per share for the current year.

Hedge Funds Weigh In On Journey Medical

Several hedge funds have recently bought and sold shares of the company. Wasatch Advisors LP lifted its stake in Journey Medical by 13.4% in the 3rd quarter. Wasatch Advisors LP now owns 1,306,272 shares of the company’s stock worth $9,301,000 after purchasing an additional 154,213 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Journey Medical by 8.9% in the third quarter. Vanguard Group Inc. now owns 615,229 shares of the company’s stock worth $4,380,000 after purchasing an additional 50,241 shares during the period. Essex Investment Management Co. LLC raised its position in shares of Journey Medical by 55.1% in the third quarter. Essex Investment Management Co. LLC now owns 354,021 shares of the company’s stock worth $2,521,000 after buying an additional 125,818 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Journey Medical by 130.7% in the second 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 in the last quarter. Finally, Sheets Smith Investment Management bought a new stake in Journey Medical during the third quarter valued at $946,000. Hedge funds and other institutional investors own 7.25% of the company’s stock.

Journey Medical Company Profile

Journey Medical Corp, headquartered in Fairfield, New Jersey, is a commercial dermatology company focused on acquiring, developing and marketing prescription dermatology products in the United States. Since its incorporation in 2019, the company has built a portfolio of both branded and generic topical therapies designed to address a range of skin conditions, including acne, atopic dermatitis, fungal infections and inflammatory lesions.

The company’s product lineup features antibiotic/anti-inflammatory combinations and corticosteroid-based formulations delivered through proprietary gel, cream and foam vehicles.