Journey Medical (NASDAQ:DERM) Shares Down 3.7% – Here’s What Happened

Journey Medical Corporation (NASDAQ:DERM) shares fell 3.7% on Monday . The company traded as low as $7.50 and last traded at $8.04. 311,803 shares traded hands during trading, an increase of 160% from the average session volume of 119,872 shares. The stock had previously closed at $8.35.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on DERM shares. Zacks Research raised shares of Journey Medical from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Journey Medical in a research report on Wednesday, January 21st. 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 MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $12.17.

Journey Medical Stock Down 3.7%

The business has a 50-day moving average of $8.01 and a 200 day moving average of $7.71. The company has a market capitalization of $267.41 million, a PE ratio of -22.97 and a beta of 0.81. 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 released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The firm had revenue of $17.63 million during the quarter, compared to the consensus estimate of $18.85 million. Journey Medical had a negative return on equity of 39.94% and a negative net margin of 14.58%. Equities research analysts predict that Journey Medical Corporation will post -1.02 earnings per share for the current year.

Hedge Funds Weigh In On Journey Medical

Institutional investors and hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP increased its holdings in shares of Journey Medical by 23.8% in the 2nd quarter. Wasatch Advisors LP now owns 1,152,059 shares of the company’s stock worth $8,272,000 after buying an additional 221,456 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Journey Medical by 130.7% in the 2nd quarter. Geode Capital Management LLC now owns 262,353 shares of the company’s stock valued at $1,884,000 after acquiring an additional 148,612 shares during the last quarter. UBS Group AG grew its position in Journey Medical by 99.9% in the fourth quarter. UBS Group AG now owns 290,226 shares of the company’s stock worth $2,238,000 after acquiring an additional 145,006 shares in the last quarter. Sheets Smith Investment Management bought a new stake in Journey Medical during the third quarter worth approximately $946,000. Finally, Essex Investment Management Co. LLC increased its stake in Journey Medical by 55.1% during the third quarter. Essex Investment Management Co. LLC now owns 354,021 shares of the company’s stock worth $2,521,000 after acquiring an additional 125,818 shares during the last quarter. 7.25% of the stock is owned by hedge funds and other institutional investors.

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.