536,000 Shares in Journey Medical Corporation $DERM Acquired by Punch & Associates Investment Management Inc.

Punch & Associates Investment Management Inc. acquired a new stake in Journey Medical Corporation (NASDAQ:DERM) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 536,000 shares of the company’s stock, valued at approximately $3,795,000. Punch & Associates Investment Management Inc. owned 1.95% of Journey Medical at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Royal Bank of Canada raised its position in shares of Journey Medical by 42.7% during the 1st quarter. Royal Bank of Canada now owns 8,175 shares of the company’s stock valued at $38,000 after acquiring an additional 2,446 shares during the last quarter. Occudo Quantitative Strategies LP boosted its position in shares of Journey Medical by 22.3% in the 4th quarter. Occudo Quantitative Strategies LP now owns 18,913 shares of the company’s stock worth $146,000 after purchasing an additional 3,443 shares during the last quarter. Opaleye Management Inc. boosted its position in shares of Journey Medical by 0.4% in the 4th quarter. Opaleye Management Inc. now owns 975,000 shares of the company’s stock worth $7,517,000 after purchasing an additional 3,936 shares during the last quarter. Bank of America Corp DE grew its stake 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 during the period. Finally, Barclays PLC grew its stake in shares of Journey Medical by 28.2% during the fourth quarter. Barclays PLC now owns 22,521 shares of the company’s stock worth $174,000 after purchasing an additional 4,955 shares during the period. 7.25% of the stock is owned by institutional investors.

Journey Medical Trading Up 0.3%

Shares of NASDAQ DERM opened at $7.55 on Thursday. Journey Medical Corporation has a twelve month low of $4.31 and a twelve month high of $9.56. The stock has a market cap of $213.09 million, a price-to-earnings ratio of -34.32 and a beta of 1.08. The company has a quick ratio of 1.41, a current ratio of 1.59 and a debt-to-equity ratio of 0.64. The company’s fifty day moving average is $6.79 and its 200-day moving average is $6.53.

Journey Medical (NASDAQ:DERM) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The business 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%. Equities research analysts predict that Journey Medical Corporation will post -0.02 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on DERM. Weiss Ratings reissued a “sell (d-)” rating on shares of Journey Medical in a research note on Friday, July 17th. Wall Street Zen upgraded Journey Medical from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Finally, B. Riley Financial reaffirmed a “buy” rating and issued a $15.00 price target (up from $12.00) on shares of Journey Medical in a research note on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Journey Medical has an average rating of “Hold” and a consensus price target of $14.00.

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.