Journey Medical Corporation (NASDAQ:DERM) Receives $13.00 Consensus Target Price from Analysts

Journey Medical Corporation (NASDAQ:DERM) has been given an average recommendation of “Hold” by the four brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $13.00.

A number of research analysts have recently commented on DERM shares. Wall Street Zen upgraded shares of Journey Medical from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Journey Medical in a report on Monday, April 20th. Finally, HC Wainwright reissued a “buy” rating and issued a $13.00 price objective on shares of Journey Medical in a research report on Thursday, March 26th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in shares of Journey Medical by 4,707.0% in the second quarter. Bank of America Corp DE now owns 4,134 shares of the company’s stock valued at $30,000 after acquiring an additional 4,048 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Journey Medical in the 2nd quarter worth $36,000. Royal Bank of Canada raised its position in shares of Journey Medical by 42.7% in the 1st quarter. Royal Bank of Canada now owns 8,175 shares of the company’s stock worth $38,000 after acquiring an additional 2,446 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Journey Medical during the 2nd quarter worth $41,000. Finally, Cetera Investment Advisers purchased a new stake in shares of Journey Medical during the 1st quarter worth $48,000. 7.25% of the stock is currently owned by hedge funds and other institutional investors.

Journey Medical Price Performance

Shares of DERM stock opened at $7.11 on Friday. Journey Medical has a 52-week low of $4.31 and a 52-week high of $9.56. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.47 and a current ratio of 1.72. The firm has a market capitalization of $195.74 million, a P/E ratio of -19.22 and a beta of 1.07. The stock has a 50 day moving average price of $6.34 and a 200 day moving average price of $6.80.

Journey Medical (NASDAQ:DERM) last released its earnings results 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). Journey Medical had a negative return on equity of 35.57% and a negative net margin of 14.82%.The business had revenue of $15.96 million during the quarter, compared to analysts’ expectations of $15.47 million. As a group, sell-side analysts predict that Journey Medical will post 0.17 earnings per share for the current year.

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.