Journey Medical (NASDAQ:DERM) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Journey Medical (NASDAQ:DERM) in a report released on Thursday,Benzinga reports. They currently have a $13.00 price objective on the stock.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Journey Medical in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.00.

Journey Medical Price Performance

NASDAQ DERM opened at $4.78 on Thursday. Journey Medical has a 1 year low of $4.76 and a 1 year high of $9.56. The company has a fifty day simple moving average of $8.00 and a 200 day simple moving average of $7.80. The company has a current ratio of 1.42, a quick ratio of 1.12 and a debt-to-equity ratio of 0.75. The company has a market cap of $158.97 million, a P/E ratio of -10.17 and a beta of 0.81.

Journey Medical (NASDAQ:DERM) last announced its earnings results on Wednesday, March 25th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. The firm had revenue of $16.08 million for the quarter, compared to the consensus estimate of $18.86 million. Journey Medical had a negative net margin of 18.48% and a negative return on equity of 51.42%. On average, sell-side analysts predict that Journey Medical will post -1.02 EPS for the current year.

Institutional Trading of Journey Medical

Several institutional investors have recently modified their holdings of DERM. Sheets Smith Investment Management acquired a new position in shares of Journey Medical in the third quarter valued at $946,000. Essex Investment Management Co. LLC lifted its position in 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 purchasing an additional 125,818 shares during the period. SJS Investment Consulting Inc. acquired a new stake in Journey Medical during the third quarter worth $107,000. JPMorgan Chase & Co. acquired a new stake in Journey Medical during the second quarter worth $41,000. Finally, Raymond James Financial Inc. bought a new stake in Journey Medical in the 2nd quarter valued at $36,000. Institutional investors and hedge funds 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.