HC Wainwright Reaffirms Buy Rating for Journey Medical (NASDAQ:DERM)

Journey Medical (NASDAQ:DERM)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a report issued on Monday, Benzinga reports. They presently have a $13.00 price objective on the stock. HC Wainwright‘s price target would indicate a potential upside of 162.63% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. B. Riley Financial reaffirmed a “buy” rating and issued a $15.00 target price (up from $12.00) on shares of Journey Medical in a research note on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Journey Medical in a research note on Thursday, October 15th. Finally, Wall Street Zen downgraded shares of Journey Medical from a “buy” rating to a “hold” rating in a research note on Saturday, October 17th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $14.00.

Journey Medical Price Performance

Shares of NASDAQ DERM traded down $0.07 during trading on Monday, reaching $4.95. The company had a trading volume of 13,840 shares, compared to its average volume of 215,039. Journey Medical has a 52 week low of $4.31 and a 52 week high of $9.56. The stock has a market cap of $139.69 million, a PE ratio of -22.50 and a beta of 1.10. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.41 and a current ratio of 1.59. The business’s 50 day moving average price is $6.71 and its 200-day moving average price is $6.33.

Journey Medical (NASDAQ:DERM) last announced its earnings results on Wednesday, August 12th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Journey Medical had a negative net margin of 8.95% and a negative return on equity of 20.23%. The company had revenue of $18.51 million during the quarter, compared to the consensus estimate of $18.36 million. Analysts expect that Journey Medical will post -0.02 earnings per share for the current year.

Institutional Investors Weigh In On Journey Medical

Institutional investors and hedge funds have recently modified their holdings of the business. Punch & Associates Investment Management Inc. bought a new stake in shares of Journey Medical during the second quarter worth approximately $3,795,000. J. Goldman & Co LP bought a new stake in shares of Journey Medical during the second quarter worth approximately $974,000. Wasatch Advisors LP raised its stake in shares of Journey Medical by 34.0% during the second quarter. Wasatch Advisors LP now owns 2,858,930 shares of the company’s stock worth $20,241,000 after buying an additional 725,560 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Journey Medical during the second quarter worth approximately $715,000. Finally, PVG Asset Management Corp raised its stake in shares of Journey Medical by 54.5% during the first quarter. PVG Asset Management Corp now owns 79,763 shares of the company’s stock worth $374,000 after buying an additional 28,131 shares during the last quarter. 7.25% of the stock is owned by institutional investors.

About Journey Medical

Journey Medical Corporation is a commercial-stage pharmaceutical company focused on developing and commercializing prescription products for medical dermatology. The company targets conditions that affect the skin, hair and nails, with an emphasis on products that address significant patient needs and can be marketed through its specialty sales organization.

Its portfolio includes Qbrexza (glycopyrronium) cloth, a topical treatment for primary axillary hyperhidrosis, and Targadox (doxycycline hyclate) delayed-release capsules, which are used to treat moderate-to-severe inflammatory acne vulgaris.