Journey Medical (NASDAQ:DERM) Stock Keeps Buy Rating at HC Wainwright

Journey Medical (NASDAQ:DERM)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued to investors on Monday, Benzinga reports. They currently have a $13.00 target price on the stock. HC Wainwright‘s price target would suggest a potential upside of 161.57% from the stock’s previous close.

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

Journey Medical Stock Down 1.0%

NASDAQ:DERM traded down $0.05 during trading hours on Monday, hitting $4.97. 118,385 shares of the company traded hands, compared to its average volume of 215,547. Journey Medical has a one year low of $4.31 and a one year high of $9.56. The company has a market cap of $140.25 million, a PE ratio of -22.59 and a beta of 1.10. The firm’s 50-day simple moving average is $6.71 and its 200-day simple moving average is $6.33. The company has a quick ratio of 1.41, a current ratio of 1.59 and a debt-to-equity ratio of 0.64.

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

Institutional Investors Weigh In On Journey Medical

Hedge funds have recently made changes to their positions in the company. Salem Investment Counselors Inc. lifted its holdings in Journey Medical by 21.0% during the 3rd quarter. Salem Investment Counselors Inc. now owns 35,319 shares of the company’s stock valued at $242,000 after buying an additional 6,119 shares in the last quarter. Squarepoint Ops LLC grew its stake in Journey Medical by 176.9% in the second quarter. Squarepoint Ops LLC now owns 45,405 shares of the company’s stock valued at $321,000 after purchasing an additional 29,007 shares during the last quarter. Pale Fire Capital SE raised its stake in shares of Journey Medical by 9.7% during the 2nd quarter. Pale Fire Capital SE now owns 528,584 shares of the company’s stock worth $3,742,000 after acquiring an additional 46,597 shares in the last quarter. Susquehanna International Group LLP lifted its holdings 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 valued at $142,000 after purchasing an additional 7,280 shares during the last quarter. Finally, Jefferies Financial Group Inc. purchased a new stake in Journey Medical in the second quarter valued at about $118,000. 7.25% of the stock is currently 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.