Journey Medical Co. (NASDAQ:DERM) Short Interest Update

Journey Medical Co. (NASDAQ:DERM) saw a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 353,200 shares, an increase of 23.5% from the June 15th total of 286,000 shares. Based on an average trading volume of 101,400 shares, the days-to-cover ratio is presently 3.5 days. Currently, 3.7% of the company’s shares are short sold.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Roth Mkm assumed coverage on shares of Journey Medical in a report on Friday, June 28th. They issued a “buy” rating and a $11.00 target price for the company. Roth Capital upgraded shares of Journey Medical to a “strong-buy” rating in a research note on Friday, June 28th.

Hedge Funds Weigh In On Journey Medical

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rosalind Advisors Inc. bought a new position in Journey Medical during the second quarter valued at about $644,000. Acadian Asset Management LLC lifted its holdings in shares of Journey Medical by 687.5% during the first quarter. Acadian Asset Management LLC now owns 222,663 shares of the company’s stock valued at $817,000 after purchasing an additional 194,389 shares during the last quarter. Heron Bay Capital Management purchased a new position in Journey Medical in the 1st quarter worth about $124,000. Finally, Nwam LLC acquired a new stake in Journey Medical during the 1st quarter worth about $41,000. Institutional investors own 7.25% of the company’s stock.

Journey Medical Price Performance

NASDAQ:DERM traded up $0.09 during midday trading on Tuesday, reaching $5.91. 105,879 shares of the company traded hands, compared to its average volume of 147,974. Journey Medical has a twelve month low of $1.60 and a twelve month high of $8.11. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 1.13. The firm has a fifty day moving average of $4.63. The stock has a market capitalization of $118.26 million, a price-to-earnings ratio of -18.39 and a beta of 0.92.

Journey Medical (NASDAQ:DERM) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.27). The firm had revenue of $13.03 million during the quarter, compared to analyst estimates of $14.91 million. Journey Medical had a negative return on equity of 32.83% and a negative net margin of 5.20%. On average, equities research analysts forecast that Journey Medical will post -0.95 earnings per share for the current fiscal year.

Journey Medical Company Profile

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.