Ramsey Alloush Sells 2,857 Shares of Journey Medical Co. (NASDAQ:DERM) Stock

Journey Medical Co. (NASDAQ:DERM) COO Ramsey Alloush sold 2,857 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $6.84, for a total value of $19,541.88. Following the completion of the transaction, the chief operating officer now directly owns 504,817 shares of the company’s stock, valued at approximately $3,452,948.28. This represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Journey Medical Price Performance

Shares of NASDAQ DERM opened at $6.56 on Wednesday. The firm has a market cap of $151.45 million, a price-to-earnings ratio of -6.97 and a beta of 0.86. The stock has a fifty day simple moving average of $6.19 and a two-hundred day simple moving average of $5.38. The company has a current ratio of 1.38, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81. Journey Medical Co. has a 1-year low of $3.20 and a 1-year high of $7.84.

Journey Medical (NASDAQ:DERM) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.30. The company had revenue of $14.30 million during the quarter, compared to analyst estimates of $14.21 million. Journey Medical had a negative return on equity of 132.10% and a negative net margin of 31.74%. Analysts anticipate that Journey Medical Co. will post -1.02 earnings per share for the current year.

Institutional Trading of Journey Medical

Several hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in Journey Medical by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 108,435 shares of the company’s stock valued at $613,000 after buying an additional 12,882 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in shares of Journey Medical by 112.9% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 24,710 shares of the company’s stock worth $97,000 after acquiring an additional 13,105 shares during the period. Dimensional Fund Advisors LP purchased a new position in shares of Journey Medical in the fourth quarter valued at $80,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of Journey Medical by 3.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 338,050 shares of the company’s stock valued at $1,994,000 after purchasing an additional 9,938 shares during the period. Finally, Tang Capital Management LLC purchased a new stake in Journey Medical during the 4th quarter worth about $6,747,000. Institutional investors own 7.25% of the company’s stock.

Analyst Ratings Changes

DERM has been the subject of a number of recent analyst reports. Industrial Alliance Securities set a $10.50 price objective on Journey Medical in a research note on Thursday, March 27th. Alliance Global Partners restated a “buy” rating on shares of Journey Medical in a research report on Thursday, March 27th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Journey Medical presently has a consensus rating of “Buy” and a consensus price target of $9.88.

About Journey Medical

Journey Medical Corporation focuses on the development and commercialization of pharmaceutical products for the treatment of dermatological conditions in the United States. The company's marketed products include Qbrexza, a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Accutane, an oral isotretinoin drug to treat severe recalcitrant nodular acne; and Amzeeq, a topical formulation of minocycline for the treatment of inflammatory lesions of non-nodular moderate to severe acne vulgaris.