Wasatch Advisors LP Has $10.01 Million Stock Holdings in Journey Medical Corporation $DERM

Wasatch Advisors LP increased its position in Journey Medical Corporation (NASDAQ:DERM) by 62.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,133,370 shares of the company’s stock after buying an additional 817,095 shares during the quarter. Wasatch Advisors LP owned 7.81% of Journey Medical worth $10,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in DERM. Bank of America Corp DE boosted its position in Journey Medical by 4,707.0% during the 2nd quarter. Bank of America Corp DE now owns 4,134 shares of the company’s stock worth $30,000 after buying an additional 4,048 shares during the period. Raymond James Financial Inc. bought a new stake in Journey Medical during the 2nd quarter worth approximately $36,000. JPMorgan Chase & Co. acquired a new position in Journey Medical in the 2nd quarter valued at approximately $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Journey Medical in the 2nd quarter valued at approximately $48,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Journey Medical during the third quarter valued at $61,000. Institutional investors own 7.25% of the company’s stock.

Analyst Ratings Changes

DERM has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Journey Medical from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. HC Wainwright restated a “buy” rating and issued a $13.00 price objective on shares of Journey Medical in a report on Thursday, March 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Journey Medical in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Journey Medical presently has an average rating of “Hold” and an average price target of $13.00.

Journey Medical Price Performance

DERM stock opened at $6.62 on Friday. 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 firm has a market cap of $182.25 million, a price-to-earnings ratio of -17.89 and a beta of 1.09. The company’s fifty day simple moving average is $5.82 and its 200 day simple moving average is $6.89. Journey Medical Corporation has a 12-month low of $4.31 and a 12-month high of $9.56.

Journey Medical (NASDAQ:DERM) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.08) earnings per share 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. On average, analysts expect that Journey Medical Corporation will post 0.17 earnings per share for the current year.

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.