Journey Medical Corporation (NASDAQ:DERM) Given Average Rating of “Hold” by Analysts

Shares of Journey Medical Corporation (NASDAQ:DERM) have received a consensus rating of “Hold” from the four research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $13.00.

DERM has been the subject of a number of analyst reports. Wall Street Zen upgraded Journey Medical from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Journey Medical in a report on Monday, April 20th. Finally, HC Wainwright reissued a “buy” rating and set a $13.00 price objective on shares of Journey Medical in a report on Thursday, March 26th.

Journey Medical Price Performance

Shares of Journey Medical stock opened at $6.22 on Monday. Journey Medical has a one year low of $4.31 and a one year high of $9.56. The stock’s fifty day moving average is $5.69 and its 200 day moving average is $6.93. The stock has a market cap of $171.24 million, a P/E ratio of -16.81 and a beta of 1.09. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.47 and a current ratio of 1.72.

Journey Medical (NASDAQ:DERM) last announced its earnings results on Wednesday, May 13th. The company reported ($0.08) EPS 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 company had revenue of $15.96 million during the quarter, compared to the consensus estimate of $15.47 million. Sell-side analysts anticipate that Journey Medical will post 0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its holdings in shares of 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 valued at $30,000 after purchasing an additional 4,048 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Journey Medical during the 2nd quarter valued at about $36,000. Royal Bank of Canada boosted its holdings in shares of Journey Medical by 42.7% during the 1st quarter. Royal Bank of Canada now owns 8,175 shares of the company’s stock valued at $38,000 after purchasing an additional 2,446 shares during the last quarter. JPMorgan Chase & Co. bought a new position in shares of Journey Medical during the 2nd quarter valued at about $41,000. Finally, Cetera Investment Advisers bought a new position in shares of Journey Medical in the 1st quarter valued at about $48,000. Institutional investors own 7.25% of the company’s stock.

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.