Journey Medical (NASDAQ:DERM) Releases Quarterly Earnings Results

Journey Medical (NASDAQ:DERM) posted its quarterly earnings data on Wednesday. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01), Zacks reports. Journey Medical had a negative net margin of 14.58% and a negative return on equity of 42.71%. The company had revenue of $17.63 million for the quarter, compared to analysts’ expectations of $18.85 million.

Journey Medical Trading Down 0.8%

Shares of Journey Medical stock traded down $0.07 during midday trading on Friday, reaching $7.63. 42,138 shares of the company’s stock traded hands, compared to its average volume of 124,530. The company has a market cap of $200.61 million, a PE ratio of -21.79 and a beta of 0.80. The stock has a 50 day moving average of $7.63 and a 200-day moving average of $7.32. Journey Medical has a 12 month low of $3.54 and a 12 month high of $9.40. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.95 and a current ratio of 1.27.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Lake Street Capital upped their target price on Journey Medical from $9.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. Zacks Research raised shares of Journey Medical from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Journey Medical in a report on Wednesday, October 8th. Finally, HC Wainwright began coverage on shares of Journey Medical in a research note on Monday, August 25th. They issued a “buy” rating and a $13.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.17.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DERM. Wasatch Advisors LP increased its stake in shares of Journey Medical by 23.8% in the 2nd quarter. Wasatch Advisors LP now owns 1,152,059 shares of the company’s stock worth $8,272,000 after acquiring an additional 221,456 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Journey Medical by 8.9% during the third quarter. Vanguard Group Inc. now owns 615,229 shares of the company’s stock valued at $4,380,000 after purchasing an additional 50,241 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Journey Medical by 130.7% in 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 last quarter. Opaleye Management Inc. raised its stake in Journey Medical by 37.0% during the second quarter. Opaleye Management Inc. now owns 95,000 shares of the company’s stock valued at $682,000 after buying an additional 25,677 shares during the last quarter. Finally, Creative Planning boosted its holdings in Journey Medical by 178.5% in the second quarter. Creative Planning now owns 32,764 shares of the company’s stock worth $235,000 after acquiring an additional 21,000 shares in the last quarter. Institutional investors own 7.25% of the company’s stock.

Journey Medical Company Profile

Journey Medical Corporation focuses on the development and commercialization of pharmaceutical products for the treatment of dermatological conditions in the United States. The company's marketed products include Qbrexza, a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Accutane, an oral isotretinoin drug to treat severe recalcitrant nodular acne; and Amzeeq, a topical formulation of minocycline for the treatment of inflammatory lesions of non-nodular moderate to severe acne vulgaris.