Journey Medical (NASDAQ:DERM) Rating Lowered to Strong Sell at Zacks Research

Journey Medical (NASDAQ:DERM) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday, Zacks reports.

Other equities research analysts also recently issued reports about the stock. HC Wainwright reiterated a “buy” rating and set a $13.00 target price on shares of Journey Medical in a research report on Monday, October 26th. Wall Street Zen lowered shares of Journey Medical from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Journey Medical in a research report on Thursday, October 15th. Finally, B. Riley Financial restated a “buy” rating and issued a $13.00 price target (down from $15.00) on shares of Journey Medical in a research report on Friday. Two investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $13.00.

Journey Medical Trading Down 1.4%

Shares of DERM stock traded down $0.06 during mid-day trading on Thursday, reaching $4.33. 387,161 shares of the stock traded hands, compared to its average volume of 185,290. The stock’s fifty day simple moving average is $5.89 and its two-hundred day simple moving average is $6.47. Journey Medical has a 1-year low of $4.00 and a 1-year high of $9.56. The company has a market cap of $122.19 million, a price-to-earnings ratio of -24.05 and a beta of 1.14. The company has a quick ratio of 1.41, a current ratio of 1.59 and a debt-to-equity ratio of 0.64.

Journey Medical (NASDAQ:DERM) last released its quarterly earnings results on Thursday, November 12th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). Journey Medical had a negative return on equity of 16.15% and a negative net margin of 7.34%. The firm had revenue of $18.97 million for the quarter, compared to the consensus estimate of $20.32 million. On average, research analysts anticipate that Journey Medical will post -0.13 EPS for the current fiscal year.

Institutional Trading of Journey Medical

Several institutional investors have recently added to or reduced their stakes in DERM. Marshall Wace LLP raised its position in shares of Journey Medical by 38.9% in the 3rd quarter. Marshall Wace LLP now owns 194,311 shares of the company’s stock worth $1,329,000 after acquiring an additional 54,468 shares in the last quarter. First Eagle Investment Management LLC acquired a new stake in Journey Medical during the third quarter worth approximately $3,305,000. Allegiance Financial Group Advisory Services LLC acquired a new stake in Journey Medical during the third quarter worth approximately $68,000. Salem Investment Counselors Inc. increased its holdings in Journey Medical by 21.0% in the third quarter. Salem Investment Counselors Inc. now owns 35,319 shares of the company’s stock worth $242,000 after purchasing an additional 6,119 shares in the last quarter. Finally, Squarepoint Ops LLC increased its holdings in Journey Medical by 176.9% in the second quarter. Squarepoint Ops LLC now owns 45,405 shares of the company’s stock worth $321,000 after purchasing an additional 29,007 shares in the last quarter. 7.25% of the stock is currently owned by institutional investors.

Trending Headlines about Journey Medical

Here are a few of the latest headlines about DERM:

• Positive Sentiment: Journey Medical’s third-quarter loss narrowed and revenue increased, and a report said shares gained in after-hours trading following the results. Article
• Neutral Sentiment: B. Riley reaffirmed its “Buy” rating but cut its price target to $13 from $15. The lower target is a cautionary change, though it remains well above the $4.48 reference price cited in the report. Article
• Negative Sentiment: Quarterly adjusted loss was $0.05 per share, worse than the $0.02 loss analysts expected. Revenue of $18.97 million also missed the $20.32 million consensus, which could weigh on sentiment despite the year-over-year improvement. Earnings report

About Journey Medical

Journey Medical Corporation is a commercial-stage pharmaceutical company focused on developing and marketing prescription treatments for dermatological conditions. Founded in 2014 and based in Scottsdale, Arizona, the company primarily serves the U.S. market. Its portfolio includes treatments for conditions such as acne, rosacea, excessive underarm sweating and fungal skin infections. Products include Amzeeq and Zilxi, topical minocycline therapies; Qbrexza, a topical treatment for primary axillary hyperhidrosis; and the oral rosacea treatment Emrosi.