Journey Medical (NASDAQ:DERM) Given “Buy” Rating at HC Wainwright

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

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

Journey Medical Price Performance

DERM traded down $0.01 during trading on Monday, hitting $4.96. 183,259 shares of the company traded hands, compared to its average volume of 215,437. The company has a market cap of $139.99 million, a PE ratio of -22.55 and a beta of 1.10. The stock’s 50-day simple moving average is $6.62 and its two-hundred day simple moving average is $6.70. Journey Medical has a 1 year low of $4.31 and a 1 year high of $9.56. The company has a current ratio of 1.59, a quick ratio of 1.41 and a debt-to-equity ratio of 0.64.

Journey Medical (NASDAQ:DERM) last posted its 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 analysts’ expectations 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, sell-side analysts anticipate that Journey Medical will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Journey Medical

A number of institutional investors and hedge funds have recently made changes to their positions in DERM. Wasatch Advisors LP grew its stake in shares of Journey Medical by 34.0% in the 2nd 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 in the last quarter. Punch & Associates Investment Management Inc. purchased a new position in shares of Journey Medical in the 2nd quarter worth $3,795,000. J. Goldman & Co LP bought a new stake in shares of Journey Medical in the 2nd quarter worth about $974,000. BlackRock Inc. bought a new stake in shares of Journey Medical in the 2nd quarter worth about $715,000. Finally, Walleye Capital LLC bought a new stake in shares of Journey Medical in the 2nd quarter worth about $463,000. 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.