Brokerages Set Journey Medical Corporation (NASDAQ:DERM) Target Price at $13.00

Shares of Journey Medical Corporation (NASDAQ:DERM) have earned an average recommendation of “Hold” from the four ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $13.00.

Several brokerages have issued reports on DERM. Wall Street Zen upgraded Journey Medical from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. HC Wainwright restated a “buy” rating and set a $13.00 target price on shares of Journey Medical in a report on Thursday, March 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Journey Medical in a research note on Monday, April 20th.

Journey Medical Stock Performance

Journey Medical stock opened at $6.22 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.72 and a quick ratio of 1.47. The stock has a fifty day moving average price of $5.69 and a two-hundred day moving average price of $6.93. Journey Medical has a 52-week low of $4.31 and a 52-week high of $9.56. The firm has a market capitalization of $171.24 million, a P/E ratio of -16.81 and a beta of 1.09.

Journey Medical (NASDAQ:DERM) last issued its earnings results on Wednesday, May 13th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Journey Medical had a negative net margin of 14.82% and a negative return on equity of 35.57%. The firm had revenue of $15.96 million during the quarter, compared to analyst estimates of $15.47 million. As a group, analysts anticipate that Journey Medical will post 0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Journey Medical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its position in shares of Journey Medical by 4,707.0% during the second quarter. Bank of America Corp DE now owns 4,134 shares of the company’s stock worth $30,000 after purchasing an additional 4,048 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Journey Medical in the second quarter valued at approximately $36,000. JPMorgan Chase & Co. acquired a new stake in shares of Journey Medical in the second quarter valued at approximately $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Journey Medical in the 2nd quarter worth approximately $48,000. Finally, Royal Bank of Canada raised its position in Journey Medical by 42.7% in the 1st quarter. Royal Bank of Canada now owns 8,175 shares of the company’s stock worth $38,000 after purchasing an additional 2,446 shares during the last quarter. Institutional investors and hedge funds own 7.25% of the company’s stock.

Journey Medical Company Profile

Journey Medical Corp, headquartered in Fairfield, New Jersey, is a commercial dermatology company focused on acquiring, developing and marketing prescription dermatology products in the United States. Since its incorporation in 2019, the company has built a portfolio of both branded and generic topical therapies designed to address a range of skin conditions, including acne, atopic dermatitis, fungal infections and inflammatory lesions.

The company’s product lineup features antibiotic/anti-inflammatory combinations and corticosteroid-based formulations delivered through proprietary gel, cream and foam vehicles.