Claude Maraoui Purchases 10,000 Shares of Journey Medical Co. (NASDAQ:DERM) Stock

Journey Medical Co. (NASDAQ:DERM) CEO Claude Maraoui purchased 10,000 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were acquired at an average price of $3.48 per share, for a total transaction of $34,800.00. Following the completion of the purchase, the chief executive officer now directly owns 2,163,430 shares of the company’s stock, valued at $7,528,736.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Journey Medical Price Performance

Shares of DERM opened at $3.89 on Thursday. The company has a market capitalization of $72.00 million, a P/E ratio of -11.11 and a beta of 0.83. Journey Medical Co. has a 52-week low of $1.02 and a 52-week high of $8.11.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners assumed coverage on shares of Journey Medical in a research note on Friday, February 16th. They set a “buy” rating and a $8.50 target price on the stock.

Hedge Funds Weigh In On Journey Medical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DERM. Vanguard Group Inc. boosted its holdings in shares of Journey Medical by 78.1% in the fourth quarter. Vanguard Group Inc. now owns 129,448 shares of the company’s stock valued at $746,000 after acquiring an additional 56,781 shares during the period. Virtu Financial LLC acquired a new stake in shares of Journey Medical in the fourth quarter valued at approximately $153,000. Northern Trust Corp acquired a new stake in shares of Journey Medical in the fourth quarter valued at approximately $96,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Journey Medical in the fourth quarter valued at approximately $65,000. 7.25% of the stock is owned by institutional investors and hedge funds.

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 acne; Targadox, an oral doxycycline drug for adjunctive therapy for severe acne; Zilxi, a topical minocycline treatment for inflammatory lesions; Ximino, an oral minocycline drug for the treatment of moderate to severe acne; and Exelderm cream and solution for topical use.