Journey Medical Co. (NASDAQ:DERM) Short Interest Update

Journey Medical Co. (NASDAQ:DERM) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 235,500 shares, an increase of 59.0% from the March 31st total of 148,100 shares. Currently, 3.5% of the company’s stock are short sold. Based on an average daily volume of 171,700 shares, the days-to-cover ratio is presently 1.4 days.

Insiders Place Their Bets

In other news, Director Justin Adam Smith acquired 30,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was acquired at an average price of $3.47 per share, for a total transaction of $104,100.00. Following the completion of the acquisition, the director now owns 134,717 shares in the company, valued at $467,467.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Journey Medical news, Director Lindsay A. Md Rosenwald acquired 10,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were bought at an average price of $3.04 per share, with a total value of $30,400.00. Following the transaction, the director now directly owns 144,245 shares of the company’s stock, valued at approximately $438,504.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Justin Adam Smith bought 30,000 shares of the stock in a transaction on Friday, March 22nd. The stock was purchased at an average price of $3.47 per share, with a total value of $104,100.00. Following the completion of the acquisition, the director now directly owns 134,717 shares in the company, valued at approximately $467,467.99. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 50,000 shares of company stock worth $169,300. 19.42% of the stock is owned by corporate insiders.

Journey Medical Price Performance

Shares of DERM stock opened at $3.40 on Friday. Journey Medical has a fifty-two week low of $1.02 and a fifty-two week high of $8.11. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average price of $3.72.

Journey Medical (NASDAQ:DERM) last released its earnings results on Thursday, March 21st. The company reported ($0.12) EPS for the quarter. Journey Medical had a negative return on equity of 34.08% and a negative net margin of 4.87%. The company had revenue of $15.26 million for the quarter, compared to analyst estimates of $15.80 million. As a group, equities analysts predict that Journey Medical will post -0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners began coverage on Journey Medical in a report on Friday, February 16th. They issued a “buy” rating and a $8.50 target price for the company.

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.