Journey Medical Corporation (NASDAQ:DERM) Given Consensus Rating of “Hold” by Analysts

Journey Medical Corporation (NASDAQ:DERM) has been assigned an average recommendation of “Hold” from the five research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $13.00.

A number of research firms have commented on DERM. HC Wainwright reiterated a “buy” rating and set a $13.00 price objective on shares of Journey Medical in a research note on Thursday, March 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Journey Medical in a research note on Wednesday, January 21st.

Institutional Investors Weigh In On Journey Medical

Institutional investors have recently made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey acquired a new position in Journey Medical during the 2nd quarter valued at about $29,000. Bank of America Corp DE raised its holdings in shares of Journey Medical by 4,707.0% during the second quarter. Bank of America Corp DE now owns 4,134 shares of the company’s stock valued at $30,000 after buying an additional 4,048 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Journey Medical during the second quarter valued at approximately $36,000. JPMorgan Chase & Co. acquired a new position in shares of Journey Medical during the second quarter worth approximately $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Journey Medical during the second quarter worth approximately $48,000. 7.25% of the stock is currently owned by institutional investors.

Journey Medical Price Performance

Shares of NASDAQ DERM opened at $4.69 on Wednesday. The company has a quick ratio of 1.53, a current ratio of 1.79 and a debt-to-equity ratio of 0.79. Journey Medical has a fifty-two week low of $4.31 and a fifty-two week high of $9.56. The business has a 50 day moving average price of $7.77 and a two-hundred day moving average price of $7.75. The firm has a market cap of $155.99 million, a PE ratio of -9.98 and a beta of 0.81.

Journey Medical (NASDAQ:DERM) last announced its earnings results on Wednesday, March 25th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. Journey Medical had a negative return on equity of 46.40% and a negative net margin of 18.48%.The company had revenue of $16.08 million for the quarter, compared to analyst estimates of $18.86 million. Sell-side analysts expect that Journey Medical will post -1.02 earnings per share for the current fiscal year.

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.