Journey Medical (NASDAQ:DERM) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Journey Medical (NASDAQ:DERM) from a hold rating to a strong sell rating in a report published on Thursday,Zacks reports.

DERM has been the topic of several other reports. Wall Street Zen cut Journey Medical from a “buy” rating to a “hold” rating in a research report on Saturday, October 17th. B. Riley Financial reissued a “buy” rating and set a $13.00 target price (down from $15.00) on shares of Journey Medical in a research note on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Journey Medical in a research report on Thursday, October 15th. Finally, HC Wainwright reissued a “buy” rating and set a $13.00 price objective on shares of Journey Medical in a research report on Monday, October 26th. Two analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $13.00.

Journey Medical Price Performance

Journey Medical stock traded down $0.06 during midday trading on Thursday, reaching $4.33. The company’s stock had a trading volume of 387,161 shares, compared to its average volume of 185,290. The stock’s 50 day simple moving average is $5.89 and its 200 day simple moving average is $6.47. The firm has a market capitalization of $122.19 million, a PE ratio of -24.05 and a beta of 1.14. Journey Medical has a fifty-two week low of $4.00 and a fifty-two week high of $9.56. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.41 and a current ratio of 1.59.

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

Hedge Funds Weigh In On Journey Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in DERM. Royal Bank of Canada grew its holdings in shares of Journey Medical by 42.7% during the first quarter. Royal Bank of Canada now owns 8,175 shares of the company’s stock worth $38,000 after buying an additional 2,446 shares in the last quarter. Allegiance Financial Group Advisory Services LLC bought a new position in Journey Medical during the third quarter worth $68,000. Persistent Asset Partners Ltd bought a new position in Journey Medical in the 2nd quarter valued at about $71,000. Cetera Investment Advisers bought a new stake in Journey Medical in the 1st quarter valued at $48,000. Finally, Jefferies Financial Group Inc. bought a new stake in Journey Medical in the 2nd quarter valued at about $118,000. 7.25% of the stock is owned by institutional investors.

More Journey Medical News

Investors following DERM have been watching these news items:

• 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.