Journey Medical Corporation (NASDAQ:DERM) Receives Consensus Recommendation of “Hold” from Analysts

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

Several equities analysts recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Journey Medical in a research note on Wednesday, January 21st. HC Wainwright reiterated a “buy” rating and issued a $13.00 price objective on shares of Journey Medical in a research note on Thursday, March 26th.

Hedge Funds Weigh In On Journey Medical

Several institutional investors have recently bought and sold shares of DERM. J. Goldman & Co LP purchased a new position in Journey Medical in the fourth quarter valued at approximately $6,155,000. Millennium Management LLC purchased a new position in Journey Medical in the fourth quarter valued at approximately $3,530,000. Ikarian Capital LLC purchased a new position in Journey Medical in the fourth quarter valued at approximately $1,939,000. Wasatch Advisors LP lifted its stake in Journey Medical by 23.8% in the second quarter. Wasatch Advisors LP now owns 1,152,059 shares of the company’s stock valued at $8,272,000 after purchasing an additional 221,456 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Journey Medical by 130.7% in the second quarter. Geode Capital Management LLC now owns 262,353 shares of the company’s stock valued at $1,884,000 after purchasing an additional 148,612 shares during the last quarter. Hedge funds and other institutional investors own 7.25% of the company’s stock.

Journey Medical Stock Performance

DERM stock opened at $4.95 on Wednesday. The firm has a market cap of $135.29 million, a PE ratio of -10.53 and a beta of 1.03. The company has a quick ratio of 1.53, a current ratio of 1.79 and a debt-to-equity ratio of 0.79. The business has a 50 day moving average of $7.38 and a 200-day moving average of $7.67. Journey Medical has a 12-month low of $4.31 and a 12-month high of $9.56.

Journey Medical (NASDAQ:DERM) last released its earnings results on Wednesday, March 25th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $18.86 million. As a group, sell-side analysts expect that Journey Medical will post -1.02 earnings per share for the current 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.