J. Goldman & Co LP Takes $974,000 Position in Journey Medical Corporation $DERM

J. Goldman & Co LP acquired a new stake in shares of Journey Medical Corporation (NASDAQ:DERM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 137,584 shares of the company’s stock, valued at approximately $974,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. ADAR1 Capital Management LLC acquired a new position in Journey Medical in the 2nd quarter worth about $280,000. BlackRock Inc. bought a new position in Journey Medical in the second quarter valued at about $715,000. Persistent Asset Partners Ltd acquired a new stake in shares of Journey Medical during the second quarter valued at about $71,000. Walleye Capital LLC acquired a new stake in shares of Journey Medical during the second quarter valued at about $463,000. Finally, Wasatch Advisors LP grew its holdings in shares of Journey Medical by 34.0% during the second 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 during the last quarter. Institutional investors own 7.25% of the company’s stock.

Journey Medical Trading Up 0.3%

NASDAQ DERM opened at $7.55 on Thursday. The business’s 50-day moving average price is $6.79 and its two-hundred day moving average price is $6.53. Journey Medical Corporation has a 12 month low of $4.31 and a 12 month high of $9.56. The firm has a market capitalization of $213.09 million, a PE ratio of -34.32 and a beta of 1.08. The company has a current ratio of 1.59, a quick ratio of 1.41 and a debt-to-equity ratio of 0.64.

Journey Medical (NASDAQ:DERM) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Journey Medical had a negative return on equity of 20.23% and a negative net margin of 8.95%.The company had revenue of $18.51 million during the quarter, compared to the consensus estimate of $18.36 million. On average, analysts expect that Journey Medical Corporation will post -0.02 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on DERM shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Journey Medical in a research note on Friday, July 17th. B. Riley Financial reissued a “buy” rating and set a $15.00 target price (up from $12.00) on shares of Journey Medical in a report on Thursday, August 13th. Finally, Wall Street Zen upgraded shares of Journey Medical from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Two 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $14.00.

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.