Analysts Set Journey Medical Corporation (NASDAQ:DERM) Target Price at $12.17

Shares of Journey Medical Corporation (NASDAQ:DERM) have been given a consensus recommendation of “Hold” by the five brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $12.1667.

DERM has been the subject of several analyst reports. Zacks Research upgraded shares of Journey Medical from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Journey Medical in a research report on Wednesday, October 8th.

Journey Medical Trading Down 4.2%

Shares of Journey Medical stock opened at $8.01 on Friday. The company has a market capitalization of $217.39 million, a P/E ratio of -22.89 and a beta of 0.81. The stock has a fifty day simple moving average of $7.84 and a 200 day simple moving average of $7.56. Journey Medical has a 12-month low of $3.54 and a 12-month high of $9.40. The company has a current ratio of 1.42, a quick ratio of 1.12 and a debt-to-equity ratio of 0.75.

Journey Medical (NASDAQ:DERM) last announced its earnings results on Wednesday, November 12th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). Journey Medical had a negative net margin of 14.58% and a negative return on equity of 39.94%. The firm had revenue of $17.63 million during the quarter, compared to analysts’ expectations of $18.85 million. On average, sell-side analysts anticipate that Journey Medical will post -1.02 earnings per share for the current fiscal year.

Institutional Trading of Journey Medical

A number of large investors have recently added to or reduced their stakes in DERM. Salem Investment Counselors Inc. raised its position in Journey Medical by 18.2% in the fourth quarter. Salem Investment Counselors Inc. now owns 14,300 shares of the company’s stock worth $110,000 after acquiring an additional 2,200 shares during the period. Wasatch Advisors LP raised its holdings 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 purchasing an additional 154,213 shares during the period. Citadel Advisors LLC purchased a new position in Journey Medical in the third quarter valued at approximately $102,000. Bank of America Corp DE lifted its stake in Journey Medical by 421.0% in the third quarter. Bank of America Corp DE now owns 21,537 shares of the company’s stock valued at $153,000 after purchasing an additional 17,403 shares during the last quarter. Finally, Creative Planning grew its holdings in Journey Medical by 54.1% during the third quarter. Creative Planning now owns 50,500 shares of the company’s stock valued at $360,000 after purchasing an additional 17,736 shares during the period. Hedge funds and other institutional investors own 7.25% of the company’s stock.

About Journey Medical

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.