J. Goldman & Co LP Takes Position in Journey Medical Corporation $DERM

J. Goldman & Co LP purchased a new position in shares of Journey Medical Corporation (NASDAQ:DERM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 137,584 shares of the company’s stock, valued at approximately $974,000. J. Goldman & Co LP owned approximately 0.50% of Journey Medical at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Wasatch Advisors LP lifted its position in Journey Medical by 34.0% during the second quarter. Wasatch Advisors LP now owns 2,858,930 shares of the company’s stock worth $20,241,000 after purchasing an additional 725,560 shares during the period. UBS Group AG grew its stake in Journey Medical by 99.9% during the fourth quarter. UBS Group AG now owns 290,226 shares of the company’s stock worth $2,238,000 after buying an additional 145,006 shares in the last quarter. BlackRock Inc. bought a new position in Journey Medical in the 2nd quarter valued at about $715,000. Persistent Asset Partners Ltd bought a new position in Journey Medical in the 2nd quarter valued at about $71,000. Finally, Walleye Capital LLC acquired a new position in shares of Journey Medical in the 2nd quarter valued at approximately $463,000. Institutional investors and hedge funds own 7.25% of the company’s stock.

Journey Medical Stock Up 0.3%

Shares of NASDAQ DERM opened at $7.55 on Thursday. The company has a current ratio of 1.59, a quick ratio of 1.41 and a debt-to-equity ratio of 0.64. The company has a market cap of $213.09 million, a price-to-earnings ratio of -34.32 and a beta of 1.08. Journey Medical Corporation has a 12 month low of $4.31 and a 12 month high of $9.56. The stock has a 50-day moving average price of $6.79 and a two-hundred day moving average price of $6.53.

Journey Medical (NASDAQ:DERM) last posted its earnings results on Wednesday, August 12th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The firm had revenue of $18.51 million during the quarter, compared to analysts’ expectations of $18.36 million. Journey Medical had a negative net margin of 8.95% and a negative return on equity of 20.23%. As a group, analysts forecast that Journey Medical Corporation will post -0.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on DERM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Journey Medical in a research report on Friday, July 17th. B. Riley Financial restated a “buy” rating and set a $15.00 price objective (up from $12.00) on shares of Journey Medical in a research report on Thursday, August 13th. Finally, Wall Street Zen upgraded Journey Medical from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $14.00.

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.