Journey Medical (NASDAQ:DERM) Trading Down 3.5% – Should You Sell?

Journey Medical Corporation (NASDAQ:DERM)’s stock price traded down 3.5% on Tuesday . The stock traded as low as $7.80 and last traded at $7.81. 56,428 shares traded hands during trading, a decline of 47% from the average session volume of 106,739 shares. The stock had previously closed at $8.09.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Journey Medical in a research note on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.17.

Journey Medical Stock Down 2.4%

The company has a current ratio of 1.42, a quick ratio of 1.12 and a debt-to-equity ratio of 0.75. The firm’s fifty day moving average price is $8.12 and its 200-day moving average price is $7.80. The company has a market cap of $261.07 million, a price-to-earnings ratio of -22.43 and a beta of 0.81.

Hedge Funds Weigh In On Journey Medical

Institutional investors have recently modified their holdings of the business. Wasatch Advisors LP lifted its stake in Journey Medical by 0.8% in the fourth quarter. Wasatch Advisors LP now owns 1,316,275 shares of the company’s stock valued at $10,148,000 after buying an additional 10,003 shares in the last quarter. Opaleye Management Inc. lifted its position in Journey Medical by 0.4% in the 4th quarter. Opaleye Management Inc. now owns 975,000 shares of the company’s stock valued at $7,517,000 after acquiring an additional 3,936 shares in the last quarter. J. Goldman & Co LP acquired a new position in Journey Medical in the 4th quarter worth $6,155,000. Vanguard Group Inc. increased its holdings in Journey Medical by 8.9% during the 3rd quarter. Vanguard Group Inc. now owns 615,229 shares of the company’s stock worth $4,380,000 after purchasing an additional 50,241 shares in the last quarter. Finally, Millennium Management LLC bought a new position in Journey Medical during the 4th quarter worth about $3,530,000. Institutional investors own 7.25% of the company’s stock.

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.