Journey Medical Corporation (NASDAQ:DERM) Receives Consensus Rating of “Hold” from Analysts

Journey Medical Corporation (NASDAQ:DERM) has been given an average rating of “Hold” by the four ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $13.00.

Several analysts recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Journey Medical in a report on Monday, April 20th. HC Wainwright reiterated a “buy” rating and issued a $13.00 target price on shares of Journey Medical in a report on Thursday, March 26th.

Hedge Funds Weigh In On Journey Medical

Several institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its stake in Journey Medical by 198.1% in the first quarter. Bank of America Corp DE now owns 32,206 shares of the company’s stock valued at $151,000 after buying an additional 21,401 shares during the period. Royal Bank of Canada lifted its stake in Journey Medical by 42.7% in the first quarter. Royal Bank of Canada now owns 8,175 shares of the company’s stock valued at $38,000 after buying an additional 2,446 shares during the period. Pale Fire Capital SE lifted its stake in Journey Medical by 8.4% in the first quarter. Pale Fire Capital SE now owns 481,987 shares of the company’s stock valued at $2,261,000 after buying an additional 37,345 shares during the period. Cetera Investment Advisers acquired a new position in Journey Medical in the first quarter valued at approximately $48,000. Finally, Bank of New York Mellon Corp lifted its stake in Journey Medical by 29.4% in the first quarter. Bank of New York Mellon Corp now owns 37,195 shares of the company’s stock valued at $174,000 after buying an additional 8,457 shares during the period. 7.25% of the stock is owned by institutional investors and hedge funds.

Journey Medical Stock Performance

Shares of DERM stock opened at $6.17 on Thursday. The business’s 50 day simple moving average is $5.71 and its 200 day simple moving average is $7.25. Journey Medical has a one year low of $4.31 and a one year high of $9.56. The stock has a market capitalization of $168.63 million, a PE ratio of -16.68 and a beta of 1.03. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.72 and a quick ratio of 1.47.

Journey Medical (NASDAQ:DERM) last announced its earnings results on Wednesday, May 13th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Journey Medical had a negative net margin of 14.82% and a negative return on equity of 35.57%. The company had revenue of $15.96 million during the quarter, compared to the consensus estimate of $15.47 million. As a group, research analysts forecast that Journey Medical 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.