Journey Medical Corporation (NASDAQ:DERM) Given Average Recommendation of “Hold” by Analysts

Journey Medical Corporation (NASDAQ:DERM) has been assigned an average rating of “Hold” from the five ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $12.1667.

DERM has been the subject of a number of research analyst reports. Zacks Research raised Journey Medical from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Journey Medical in a research note on Wednesday, October 8th.

Journey Medical Price Performance

Shares of NASDAQ:DERM opened at $8.36 on Friday. The company has a market capitalization of $226.89 million, a PE ratio of -23.89 and a beta of 0.81. The business has a fifty day moving average price of $7.86 and a 200-day moving average price of $7.55. Journey Medical has a 1-year low of $3.54 and a 1-year high of $9.40. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.42 and a quick ratio of 1.12.

Journey Medical (NASDAQ:DERM) last announced 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). The firm had revenue of $17.63 million for the quarter, compared to analysts’ expectations of $18.85 million. Journey Medical had a negative net margin of 14.58% and a negative return on equity of 39.94%. As a group, equities analysts expect that Journey Medical will post -1.02 EPS for the current fiscal year.

Institutional Trading of Journey Medical

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

About Journey Medical

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.