Journey Medical Corporation (NASDAQ:DERM) Receives $12.17 Consensus Target Price from Brokerages

Shares of Journey Medical Corporation (NASDAQ:DERM) have been assigned a consensus recommendation of “Hold” from the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $12.1667.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Journey Medical in a research note on Wednesday, January 21st.

Journey Medical Trading Down 3.5%

Shares of Journey Medical stock opened at $7.71 on Tuesday. The business has a fifty day simple moving average of $8.03 and a 200-day simple moving average of $7.71. Journey Medical has a fifty-two week low of $4.85 and a fifty-two week high of $9.56. The firm has a market cap of $256.43 million, a price-to-earnings ratio of -22.03 and a beta of 0.81. The company has a quick ratio of 1.12, a current ratio of 1.42 and a debt-to-equity ratio of 0.75.

Journey Medical (NASDAQ:DERM) last issued its quarterly earnings results 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. On average, equities analysts forecast that Journey Medical will post -1.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Journey Medical during the second quarter worth $29,000. Bank of America Corp DE raised its holdings in Journey Medical by 4,707.0% during the 2nd quarter. Bank of America Corp DE now owns 4,134 shares of the company’s stock worth $30,000 after buying an additional 4,048 shares during the period. Raymond James Financial Inc. purchased a new stake in Journey Medical during the second quarter valued at about $36,000. JPMorgan Chase & Co. purchased a new stake in Journey Medical during the second quarter valued at about $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Journey Medical in the second quarter worth about $48,000. 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.