Wasatch Advisors LP Has $10.01 Million Stake in Journey Medical Corporation $DERM

Wasatch Advisors LP increased its stake in Journey Medical Corporation (NASDAQ:DERM) by 62.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,133,370 shares of the company’s stock after acquiring an additional 817,095 shares during the quarter. Wasatch Advisors LP owned 0.08% of Journey Medical worth $10,006,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of DERM. UBS Group AG boosted its stake in Journey Medical by 99.9% during the fourth quarter. UBS Group AG now owns 290,226 shares of the company’s stock worth $2,238,000 after acquiring an additional 145,006 shares in the last quarter. Legato Capital Management LLC increased its stake in Journey Medical by 9.6% in the fourth quarter. Legato Capital Management LLC now owns 111,695 shares of the company’s stock valued at $861,000 after purchasing an additional 9,799 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in Journey Medical by 18.2% in the fourth quarter. Salem Investment Counselors Inc. now owns 14,300 shares of the company’s stock valued at $110,000 after purchasing an additional 2,200 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Journey Medical during the fourth quarter valued at about $108,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Journey Medical during the second quarter valued at about $103,000. Institutional investors and hedge funds own 7.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on DERM shares. Weiss Ratings restated a “sell (d-)” rating on shares of Journey Medical in a research note on Monday, April 20th. Wall Street Zen raised Journey Medical from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Finally, HC Wainwright reiterated a “buy” rating and issued a $13.00 price target on shares of Journey Medical in a report on Thursday, March 26th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $13.00.

Journey Medical Stock Performance

DERM opened at $6.62 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.47 and a debt-to-equity ratio of 0.74. The company’s fifty day moving average price is $5.82 and its two-hundred day moving average price is $6.89. Journey Medical Corporation has a 1-year low of $4.31 and a 1-year high of $9.56. The company has a market cap of $182.25 million, a price-to-earnings ratio of -17.89 and a beta of 1.09.

Journey Medical (NASDAQ:DERM) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The business had revenue of $15.96 million during the quarter, compared to the consensus estimate of $15.47 million. Journey Medical had a negative net margin of 14.82% and a negative return on equity of 35.57%. On average, analysts expect that Journey Medical Corporation will post 0.17 EPS for the current fiscal year.

Journey Medical Profile

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.