Journey Medical (NASDAQ:DERM) Earns “Buy” Rating from HC Wainwright

Journey Medical (NASDAQ:DERM)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $13.00 price target on the stock. HC Wainwright‘s target price would indicate a potential upside of 162.10% from the company’s previous close.

DERM has been the topic of a number of other research reports. B. Riley Financial reiterated a “buy” rating and set a $15.00 price target (up from $12.00) on shares of Journey Medical in a report on Thursday, August 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Journey Medical in a report on Thursday, October 15th. Finally, Wall Street Zen cut shares of Journey Medical from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $14.00.

Journey Medical Trading Down 0.2%

Journey Medical stock traded down $0.01 during mid-day trading on Monday, hitting $4.96. The company’s stock had a trading volume of 183,259 shares, compared to its average volume of 215,437. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.59 and a quick ratio of 1.41. The stock has a market cap of $139.99 million, a price-to-earnings ratio of -22.55 and a beta of 1.10. The business has a 50 day moving average price of $6.62 and a 200-day moving average price of $6.70. Journey Medical has a 12 month low of $4.31 and a 12 month high of $9.56.

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

Hedge Funds Weigh In On Journey Medical

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada boosted its stake 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 worth $38,000 after purchasing an additional 2,446 shares during the period. Persistent Asset Partners Ltd purchased a new position in shares of Journey Medical during the 2nd quarter worth about $71,000. Cetera Investment Advisers purchased a new position in shares of Journey Medical during the 1st quarter worth about $48,000. Jefferies Financial Group Inc. purchased a new position in shares of Journey Medical during the 2nd quarter worth about $118,000. Finally, Susquehanna International Group LLP boosted its stake in shares of Journey Medical by 57.2% during the 2nd quarter. Susquehanna International Group LLP now owns 20,001 shares of the company’s stock worth $142,000 after purchasing an additional 7,280 shares during the period. 7.25% of the stock is owned by hedge funds and other institutional investors.

Journey Medical Company Profile

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.