Journey Medical (NASDAQ:DERM) Releases Earnings Results, Misses Estimates By $0.04 EPS

Journey Medical (NASDAQ:DERM) released its quarterly earnings data on Wednesday. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.04), Zacks reports. Journey Medical had a negative return on equity of 48.69% and a negative net margin of 15.49%.

Journey Medical Stock Performance

Journey Medical stock traded up $0.05 during trading on Wednesday, reaching $9.10. The company had a trading volume of 269,998 shares, compared to its average volume of 121,168. The firm’s 50-day simple moving average is $7.57 and its 200 day simple moving average is $7.30. Journey Medical has a 52 week low of $3.54 and a 52 week high of $9.40. The company has a current ratio of 1.27, a quick ratio of 0.95 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $239.42 million, a price-to-earnings ratio of -23.95 and a beta of 0.80.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DERM. Wasatch Advisors LP grew its holdings in Journey Medical by 23.8% during the 2nd quarter. Wasatch Advisors LP now owns 1,152,059 shares of the company’s stock valued at $8,272,000 after purchasing an additional 221,456 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Journey Medical by 130.7% during the second quarter. Geode Capital Management LLC now owns 262,353 shares of the company’s stock valued at $1,884,000 after buying an additional 148,612 shares during the period. Vanguard Group Inc. grew its stake in shares of Journey Medical by 8.9% during the third quarter. Vanguard Group Inc. now owns 615,229 shares of the company’s stock valued at $4,380,000 after buying an additional 50,241 shares during the last quarter. Opaleye Management Inc. lifted its stake in shares of Journey Medical by 37.0% during the 2nd quarter. Opaleye Management Inc. now owns 95,000 shares of the company’s stock worth $682,000 after acquiring an additional 25,677 shares during the last quarter. Finally, Creative Planning boosted its holdings in Journey Medical by 178.5% during the 2nd quarter. Creative Planning now owns 32,764 shares of the company’s stock valued at $235,000 after acquiring an additional 21,000 shares during the period. 7.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on DERM shares. HC Wainwright initiated coverage on shares of Journey Medical in a research note on Monday, August 25th. They issued a “buy” rating and a $13.00 price target for the company. Zacks Research upgraded shares of Journey Medical from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Journey Medical in a research note on Wednesday, October 8th. Finally, Lake Street Capital lifted their price objective on Journey Medical from $9.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $12.17.

About Journey Medical

Journey Medical Corporation focuses on the development and commercialization of pharmaceutical products for the treatment of dermatological conditions in the United States. The company's marketed products include Qbrexza, a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Accutane, an oral isotretinoin drug to treat severe recalcitrant nodular acne; and Amzeeq, a topical formulation of minocycline for the treatment of inflammatory lesions of non-nodular moderate to severe acne vulgaris.