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

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

DERM has been the topic of several other reports. B. Riley Financial restated 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. Weiss Ratings restated a “sell (d-)” rating on shares of Journey Medical in a research report on Thursday, October 15th. Finally, Wall Street Zen cut shares of Journey Medical from a “buy” rating to a “hold” rating in a research note on Saturday, October 17th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $14.00.

Journey Medical Stock Down 1.0%

Shares of NASDAQ DERM traded down $0.05 during mid-day trading on Monday, hitting $4.97. The company had a trading volume of 118,385 shares, compared to its average volume of 215,520. Journey Medical has a 1-year low of $4.31 and a 1-year high of $9.56. The company has a market capitalization of $140.25 million, a PE ratio of -22.59 and a beta of 1.10. 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 business’s 50-day simple moving average is $6.71 and its 200 day simple moving average is $6.33.

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

Institutional Investors Weigh In On Journey Medical

Several institutional investors and hedge funds have recently bought and sold shares of DERM. Salem Investment Counselors Inc. increased its holdings in shares of Journey Medical by 21.0% during the third quarter. Salem Investment Counselors Inc. now owns 35,319 shares of the company’s stock valued at $242,000 after purchasing an additional 6,119 shares during the period. Squarepoint Ops LLC increased its stake in Journey Medical by 176.9% during the 2nd quarter. Squarepoint Ops LLC now owns 45,405 shares of the company’s stock valued at $321,000 after buying an additional 29,007 shares during the period. Pale Fire Capital SE increased its stake in 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 period. Susquehanna International Group LLP raised its position 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 buying an additional 7,280 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Journey Medical during the 2nd quarter worth about $118,000. Institutional investors and hedge funds 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.