Analysts Set Journey Medical Corporation (NASDAQ:DERM) Target Price at $12.17

Journey Medical Corporation (NASDAQ:DERM) has been given a consensus recommendation of “Hold” by the five research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $12.1667.

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

Institutional Trading of Journey Medical

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. purchased a new position in Journey Medical during the fourth quarter valued at $127,000. XTX Topco Ltd purchased a new stake in shares of Journey Medical in the fourth quarter worth $126,000. Ikarian Capital LLC bought a new position in shares of Journey Medical during the fourth quarter valued at $1,939,000. Occudo Quantitative Strategies LP raised its position in shares of Journey Medical by 22.3% in the 4th quarter. Occudo Quantitative Strategies LP now owns 18,913 shares of the company’s stock worth $146,000 after purchasing an additional 3,443 shares during the last quarter. Finally, Opaleye Management Inc. raised its position in shares of Journey Medical by 0.4% in the 4th quarter. Opaleye Management Inc. now owns 975,000 shares of the company’s stock worth $7,517,000 after purchasing an additional 3,936 shares during the last quarter. Hedge funds and other institutional investors own 7.25% of the company’s stock.

Journey Medical Stock Up 3.2%

NASDAQ:DERM opened at $8.02 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.42 and a quick ratio of 1.12. The firm’s 50-day moving average price is $8.13 and its 200-day moving average price is $7.82. The company has a market capitalization of $266.75 million, a PE ratio of -22.91 and a beta of 0.81. Journey Medical has a 1-year low of $4.97 and a 1-year high of $9.56.

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.