Journey Medical (NASDAQ:DERM) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Journey Medical (NASDAQ:DERM) released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01), Zacks reports. The firm had revenue of $17.63 million for the quarter, compared to analyst estimates of $18.85 million. Journey Medical had a negative return on equity of 39.94% and a negative net margin of 14.58%.

Journey Medical Stock Up 2.0%

NASDAQ DERM traded up $0.15 during trading hours on Thursday, hitting $7.84. The company had a trading volume of 39,538 shares, compared to its average volume of 126,792. The company has a market capitalization of $212.91 million, a price-to-earnings ratio of -22.40 and a beta of 0.80. Journey Medical has a fifty-two week low of $3.54 and a fifty-two week high of $9.40. The firm’s 50 day moving average is $7.77 and its 200 day moving average is $7.40. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.42 and a quick ratio of 1.12.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on DERM shares. HC Wainwright started coverage on shares of Journey Medical in a research note on Monday, August 25th. They set a “buy” rating and a $13.00 target price for the company. Lake Street Capital upped their price objective on Journey Medical from $9.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Zacks Research upgraded Journey Medical from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Journey Medical in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Journey Medical currently has a consensus rating of “Hold” and an average price target of $12.17.

Institutional Investors Weigh In On Journey Medical

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP raised its stake in shares of Journey Medical by 13.4% in the 3rd quarter. Wasatch Advisors LP now owns 1,306,272 shares of the company’s stock worth $9,301,000 after buying an additional 154,213 shares in the last quarter. Vanguard Group Inc. boosted its stake in Journey Medical by 8.9% during the third quarter. Vanguard Group Inc. now owns 615,229 shares of the company’s stock valued at $4,380,000 after buying an additional 50,241 shares in the last quarter. Geode Capital Management LLC grew its holdings in Journey Medical by 130.7% during the second quarter. Geode Capital Management LLC now owns 262,353 shares of the company’s stock worth $1,884,000 after acquiring an additional 148,612 shares during the period. Opaleye Management Inc. raised its position in Journey Medical by 37.0% in the second quarter. Opaleye Management Inc. now owns 95,000 shares of the company’s stock worth $682,000 after acquiring an additional 25,677 shares in the last quarter. Finally, Creative Planning lifted its holdings in Journey Medical by 54.1% in the 3rd quarter. Creative Planning now owns 50,500 shares of the company’s stock valued at $360,000 after acquiring an additional 17,736 shares during the last quarter. Institutional investors and hedge funds own 7.25% of the company’s stock.

About Journey Medical

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.