Journey Medical Co. (NASDAQ:DERM) CFO Joseph Benesch Sells 4,055 Shares

Journey Medical Co. (NASDAQ:DERM) CFO Joseph Benesch sold 4,055 shares of Journey Medical stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $5.40, for a total transaction of $21,897.00. Following the completion of the transaction, the chief financial officer now directly owns 56,655 shares in the company, valued at approximately $305,937. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Journey Medical Price Performance

NASDAQ DERM traded down $0.06 on Tuesday, hitting $5.41. 22,229 shares of the stock were exchanged, compared to its average volume of 143,702. Journey Medical Co. has a 52 week low of $1.60 and a 52 week high of $8.11. The stock has a market capitalization of $108.25 million, a P/E ratio of -17.81 and a beta of 0.92. The business has a fifty day simple moving average of $4.84. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.21 and a quick ratio of 0.94.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Roth Mkm assumed coverage on shares of Journey Medical in a research note on Friday, June 28th. They issued a “buy” rating and a $11.00 price target on the stock. Roth Capital raised shares of Journey Medical to a “strong-buy” rating in a research note on Friday, June 28th.

Hedge Funds Weigh In On Journey Medical

Several institutional investors and hedge funds have recently modified their holdings of DERM. Acadian Asset Management LLC grew its stake in Journey Medical by 687.5% during the first quarter. Acadian Asset Management LLC now owns 222,663 shares of the company’s stock worth $817,000 after buying an additional 194,389 shares in the last quarter. Rosalind Advisors Inc. bought a new position in shares of Journey Medical in the second quarter worth about $644,000. Heron Bay Capital Management bought a new position in shares of Journey Medical in the first quarter worth about $124,000. Finally, Nwam LLC bought a new position in Journey Medical in the 1st quarter valued at approximately $41,000. 7.25% of the stock is currently owned by institutional investors and hedge funds.

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.