Journey Medical Corporation (NASDAQ:DERM) Given Average Recommendation of “Hold” by Brokerages

Shares of Journey Medical Corporation (NASDAQ:DERM) have been assigned an average recommendation of “Hold” from the four research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $13.00.

A number of equities research analysts have recently weighed in on DERM shares. Wall Street Zen raised Journey Medical from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Journey Medical in a research note on Monday, April 20th. Finally, HC Wainwright restated a “buy” rating and set a $13.00 target price on shares of Journey Medical in a report on Thursday, March 26th.

Institutional Trading of Journey Medical

Several hedge funds have recently made changes to their positions in DERM. Jane Street Group LLC purchased a new position in shares of Journey Medical in the first quarter valued at approximately $110,000. Geode Capital Management LLC increased its stake in Journey Medical by 130.7% during the 2nd quarter. Geode Capital Management LLC now owns 262,353 shares of the company’s stock worth $1,884,000 after buying an additional 148,612 shares during the period. Creative Planning increased its stake in Journey Medical by 178.5% during the 2nd quarter. Creative Planning now owns 32,764 shares of the company’s stock worth $235,000 after buying an additional 21,000 shares during the period. JPMorgan Chase & Co. acquired a new stake in Journey Medical during the 2nd quarter worth approximately $41,000. Finally, New York State Common Retirement Fund acquired a new stake in Journey Medical during the 2nd quarter worth approximately $103,000. Institutional investors and hedge funds own 7.25% of the company’s stock.

Journey Medical Stock Performance

NASDAQ:DERM opened at $7.00 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.47 and a current ratio of 1.72. The stock has a market capitalization of $192.71 million, a P/E ratio of -18.92 and a beta of 1.07. The company has a 50 day moving average price of $6.15 and a 200 day moving average price of $6.83. Journey Medical has a fifty-two week low of $4.31 and a fifty-two week high of $9.56.

Journey Medical (NASDAQ:DERM) last announced its earnings results on Wednesday, May 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Journey Medical had a negative net margin of 14.82% and a negative return on equity of 35.57%. The firm had revenue of $15.96 million during the quarter, compared to analysts’ expectations of $15.47 million. Equities research analysts forecast that Journey Medical will post 0.17 EPS for the current year.

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.