Journey Medical (NASDAQ:DERM) Receives “Buy” Rating from HC Wainwright

Journey Medical (NASDAQ:DERM)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They presently have a $13.00 target price on the stock. HC Wainwright’s target price would suggest a potential upside of 90.34% from the stock’s previous close.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Journey Medical in a report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $12.17.

Journey Medical Stock Performance

Shares of Journey Medical stock opened at $6.83 on Thursday. 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 has a twelve month low of $5.51 and a twelve month high of $9.56. The stock has a market cap of $227.17 million, a price-to-earnings ratio of -19.51 and a beta of 0.81. The company’s fifty day moving average is $8.07 and its 200 day moving average is $7.82.

Institutional Investors Weigh In On Journey Medical

Institutional investors have recently modified their holdings of the company. 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 stake in 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 worth $30,000 after buying an additional 4,048 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Journey Medical in the second quarter valued at $36,000. JPMorgan Chase & Co. bought a new stake in Journey Medical during the second quarter valued at $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Journey Medical during the second quarter valued at $48,000. 7.25% of the stock is owned by institutional investors.

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.