Journey Medical (NASDAQ:DERM) Announces Earnings Results, Beats Expectations By $0.04 EPS

Journey Medical (NASDAQ:DERM) issued its earnings results on Wednesday. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04, FiscalAI reports. The business had revenue of $18.51 million during the quarter, compared to analysts’ expectations of $18.36 million. Journey Medical had a negative return on equity of 35.57% and a negative net margin of 14.82%.

Journey Medical Trading Up 1.7%

NASDAQ:DERM traded up $0.11 on Wednesday, reaching $6.43. 252,416 shares of the stock traded hands, compared to its average volume of 222,326. The firm has a market capitalization of $177.05 million, a price-to-earnings ratio of -17.38 and a beta of 1.08. The company’s 50 day moving average is $6.58 and its 200-day moving average is $6.64. The company has a current ratio of 1.72, a quick ratio of 1.47 and a debt-to-equity ratio of 0.74. Journey Medical has a 1-year low of $4.31 and a 1-year high of $9.56.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Journey Medical in a research note on Friday, July 17th. Wall Street Zen raised Journey Medical from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $13.00.

Institutional Investors Weigh In On Journey Medical

A number of institutional investors have recently modified their holdings of the company. Bank of America Corp DE increased its position 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 worth $30,000 after buying an additional 4,048 shares during the period. Raymond James Financial Inc. acquired a new position in Journey Medical in the second quarter valued at $36,000. JPMorgan Chase & Co. acquired a new position in Journey Medical in the second quarter valued at $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Journey Medical during the second quarter valued at $48,000. Finally, Russell Investments Group Ltd. acquired a new stake in Journey Medical during the 3rd quarter worth about $61,000. 7.25% of the stock is owned by institutional investors.

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.