Journey Medical’s (DERM) Buy Rating Reaffirmed at HC Wainwright

Journey Medical (NASDAQ:DERM)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $13.00 target price on the stock. HC Wainwright‘s price objective indicates a potential upside of 161.57% from the company’s previous close.

Several other brokerages also recently issued reports on DERM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Journey Medical in a report on Thursday, October 15th. 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. Finally, Wall Street Zen downgraded Journey Medical from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $14.00.

Journey Medical Stock Down 1.0%

Journey Medical stock traded down $0.05 during trading on Monday, hitting $4.97. 118,585 shares of the company were exchanged, compared to its average volume of 215,594. The business’s 50 day moving average is $6.71 and its 200 day moving average is $6.33. Journey Medical has a 52 week low of $4.31 and a 52 week high of $9.56. The company has a market capitalization of $140.25 million, a P/E ratio of -22.59 and a beta of 1.10. 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 announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. Journey Medical had a negative return on equity of 20.23% and a negative net margin of 8.95%. The business had revenue of $18.51 million during the quarter, compared to the consensus estimate of $18.36 million. Analysts predict that Journey Medical will post -0.02 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Punch & Associates Investment Management Inc. bought a new position in Journey Medical in the 2nd quarter valued at $3,795,000. J. Goldman & Co LP purchased a new position in shares of Journey Medical during the 2nd quarter valued at $974,000. Wasatch Advisors LP lifted its position in shares of Journey Medical by 34.0% during the 2nd quarter. Wasatch Advisors LP now owns 2,858,930 shares of the company’s stock valued at $20,241,000 after buying an additional 725,560 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Journey Medical during the 2nd quarter valued at $715,000. Finally, Pale Fire Capital SE lifted its position 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 valued at $3,742,000 after buying an additional 46,597 shares during the last quarter. Institutional investors own 7.25% of the company’s stock.

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.