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

Journey Medical Corporation (NASDAQ:DERM) has received a consensus rating of “Hold” from the four brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $13.00.

DERM has been the subject of a number of research reports. HC Wainwright restated a “buy” rating and issued a $13.00 price target on shares of Journey Medical in a report on Thursday, March 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Journey Medical in a research report on Monday, April 20th. Finally, Wall Street Zen raised Journey Medical from a “hold” rating to a “buy” rating in a report on Saturday, June 13th.

Institutional Investors Weigh In On Journey Medical

A number of large investors have recently made changes to their positions in DERM. Wasatch Advisors LP boosted its position in shares of Journey Medical by 34.0% in the 2nd quarter. Wasatch Advisors LP now owns 2,858,930 shares of the company’s stock worth $20,241,000 after purchasing an additional 725,560 shares in the last quarter. PVG Asset Management Corp boosted its holdings in Journey Medical by 54.5% in the 1st quarter. PVG Asset Management Corp now owns 79,763 shares of the company’s stock worth $374,000 after buying an additional 28,131 shares during the period. Bank of America Corp DE increased its holdings in Journey Medical by 198.1% in the 1st quarter. Bank of America Corp DE now owns 32,206 shares of the company’s stock valued at $151,000 after acquiring an additional 21,401 shares during the last quarter. Royal Bank of Canada increased its stake in Journey Medical by 42.7% in the 1st quarter. Royal Bank of Canada now owns 8,175 shares of the company’s stock worth $38,000 after acquiring an additional 2,446 shares during the last quarter. Finally, Pale Fire Capital SE lifted its stake in shares of Journey Medical by 8.4% in the 1st quarter. Pale Fire Capital SE now owns 481,987 shares of the company’s stock valued at $2,261,000 after purchasing an additional 37,345 shares during the last quarter. 7.25% of the stock is currently owned by institutional investors.

Journey Medical Trading Up 3.8%

DERM opened at $7.12 on Friday. The company has a 50-day simple moving average of $6.26 and a 200 day simple moving average of $6.81. Journey Medical has a twelve month low of $4.31 and a twelve month high of $9.56. The company has a quick ratio of 1.47, a current ratio of 1.72 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $196.01 million, a price-to-earnings ratio of -19.24 and a beta of 1.07.

Journey Medical (NASDAQ:DERM) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Journey Medical had a negative return on equity of 35.57% and a negative net margin of 14.82%.The business had revenue of $15.96 million for the quarter, compared to analyst estimates of $15.47 million. Analysts predict that Journey Medical will post 0.17 EPS for the current fiscal year.

Journey Medical Company Profile

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.