Journey Medical Co. (NASDAQ:DERM) Sees Large Decrease in Short Interest

Journey Medical Co. (NASDAQ:DERM) was the recipient of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totalling 325,600 shares, a decrease of 7.8% from the June 30th total of 353,200 shares. Based on an average daily trading volume, of 83,000 shares, the short-interest ratio is currently 3.9 days. Approximately 3.5% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several equities analysts have commented on DERM shares. Roth Capital upgraded Journey Medical to a “strong-buy” rating in a report on Friday, June 28th. Roth Mkm started coverage on Journey Medical in a research report on Friday, June 28th. They issued a “buy” rating and a $11.00 price objective for the company.

Insider Buying and Selling

In related news, CFO Joseph Benesch sold 9,324 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $5.47, for a total value of $51,002.28. Following the transaction, the chief financial officer now owns 47,331 shares in the company, valued at $258,900.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 19.42% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nwam LLC acquired a new stake in shares of Journey Medical in the first quarter valued at $41,000. Heron Bay Capital Management acquired a new stake in shares of Journey Medical in the first quarter valued at $124,000. Rosalind Advisors Inc. acquired a new stake in shares of Journey Medical in the second quarter valued at $644,000. Acadian Asset Management LLC increased its stake in shares of Journey Medical by 687.5% in the first quarter. Acadian Asset Management LLC now owns 222,663 shares of the company’s stock valued at $817,000 after buying an additional 194,389 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Journey Medical in the second quarter valued at $1,664,000. 7.25% of the stock is owned by institutional investors.

Journey Medical Trading Down 0.4 %

DERM stock traded down $0.02 during midday trading on Thursday, hitting $5.53. The stock had a trading volume of 45,820 shares, compared to its average volume of 138,983. The firm has a market capitalization of $110.66 million, a price-to-earnings ratio of -17.84 and a beta of 0.93. Journey Medical has a 52 week low of $1.78 and a 52 week high of $8.11. The stock’s 50-day simple moving average is $5.11. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 1.13.

Journey Medical (NASDAQ:DERM) last issued its quarterly earnings data on Monday, May 13th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.27). The company had revenue of $13.03 million for the quarter, compared to the consensus estimate of $14.91 million. Journey Medical had a negative net margin of 5.20% and a negative return on equity of 32.83%. On average, equities analysts forecast that Journey Medical will post -0.95 EPS for the current year.

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.