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

Journey Medical (NASDAQ:DERM)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research report issued on Monday, Benzinga reports. They presently have a $13.00 price objective on the stock. HC Wainwright‘s price objective would indicate a potential upside of 160.78% from the company’s current price.

Other research analysts have also issued reports about the company. Wall Street Zen lowered Journey Medical from a “buy” rating to a “hold” rating in a research report on Saturday, October 17th. B. Riley Financial reaffirmed a “buy” rating and issued a $15.00 price objective (up from $12.00) on shares of Journey Medical in a report on Thursday, August 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Journey Medical in a research report on Thursday, October 15th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $14.00.

Journey Medical Stock Performance

Shares of DERM stock traded down $0.04 during mid-day trading on Monday, hitting $4.99. The stock had a trading volume of 49,970 shares, compared to its average volume of 215,237. Journey Medical has a fifty-two week low of $4.31 and a fifty-two week high of $9.56. The firm has a market cap of $140.68 million, a PE ratio of -22.66 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 company’s 50-day simple moving average is $6.71 and its 200-day simple moving average is $6.33.

Journey Medical (NASDAQ:DERM) last released its earnings results on Wednesday, August 12th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $18.51 million during the quarter, compared to the consensus estimate of $18.36 million. Journey Medical had a negative return on equity of 20.23% and a negative net margin of 8.95%. Sell-side analysts anticipate that Journey Medical will post -0.02 earnings per share for the current year.

Institutional Trading of Journey Medical

Hedge funds have recently modified their holdings of the stock. Wasatch Advisors LP boosted its stake in shares of Journey Medical by 34.0% in the 2nd quarter. Wasatch Advisors LP now owns 2,858,930 shares of the company’s stock valued at $20,241,000 after purchasing an additional 725,560 shares during the last quarter. Punch & Associates Investment Management Inc. bought a new stake in shares of Journey Medical in the second quarter worth $3,795,000. Pale Fire Capital SE raised its stake 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 worth $3,742,000 after purchasing an additional 46,597 shares in the last quarter. J. Goldman & Co LP bought a new position in Journey Medical in the 2nd quarter valued at about $974,000. Finally, BlackRock Inc. bought a new position in Journey Medical during the second quarter worth about $715,000. 7.25% of the stock is owned by institutional investors.

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.