Journey Medical (NASDAQ:DERM) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Journey Medical (NASDAQ:DERM) from a buy rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts have also issued reports on DERM. B. Riley Financial reaffirmed a “buy” rating and issued a $15.00 price target (up from $12.00) on shares of Journey Medical in a research report on Thursday, August 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Journey Medical in a research report on Thursday. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $14.00.

Journey Medical Price Performance

Shares of NASDAQ DERM opened at $5.17 on Friday. 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 has a 12-month low of $4.31 and a 12-month high of $9.56. The business’s fifty day simple moving average is $6.83 and its 200-day simple moving average is $6.33.

Journey Medical (NASDAQ:DERM) last released its earnings results on Wednesday, August 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $18.51 million during the quarter, compared to analyst estimates of $18.36 million. As a group, equities research analysts expect that Journey Medical will post -0.02 EPS for the current year.

Institutional Trading of Journey Medical

Several institutional investors have recently modified their holdings of the stock. Wasatch Advisors LP increased its position 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 in the last quarter. Punch & Associates Investment Management Inc. purchased a new stake in shares of Journey Medical in the 2nd quarter valued at about $3,795,000. Pale Fire Capital SE boosted its position in shares of Journey Medical by 9.7% in the 2nd quarter. Pale Fire Capital SE now owns 528,584 shares of the company’s stock valued at $3,742,000 after purchasing an additional 46,597 shares during the period. J. Goldman & Co LP acquired a new stake in shares of Journey Medical in the 2nd quarter valued at about $974,000. Finally, BlackRock Inc. acquired a new stake in shares of Journey Medical in the 2nd quarter valued at about $715,000. Hedge funds and other institutional investors own 7.25% of the company’s stock.

About Journey Medical

Journey Medical Corporation (NASDAQ: DERM) is a commercial-stage pharmaceutical company focused on developing, acquiring and commercializing prescription therapies for medical dermatology. The company’s portfolio is intended to address conditions treated by dermatologists, including hyperhidrosis, acne, fungal skin infections and inflammatory skin disorders.

Journey Medical’s marketed products include Qbrexza (glycopyrronium tosylate) cloth for primary axillary hyperhidrosis, Targadox (doxycycline hyclate) capsules for moderate-to-severe inflammatory lesions associated with acne vulgaris, and Exelderm (sulconazole nitrate) cream and solution for certain fungal skin infections.