Journey Medical Corporation (NASDAQ:DERM) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Journey Medical Corporation (NASDAQ:DERM) have been assigned a consensus recommendation of “Hold” from the five brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $13.00.

DERM has been the topic of several research reports. 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Journey Medical in a research note on Wednesday, January 21st.

Hedge Funds Weigh In On Journey Medical

Institutional investors and hedge funds have recently bought and sold shares of the stock. Police & Firemen s Retirement System of New Jersey acquired a new stake in Journey Medical in the second quarter valued at approximately $29,000. Bank of America Corp DE lifted its position in shares of Journey Medical by 4,707.0% during the second quarter. Bank of America Corp DE now owns 4,134 shares of the company’s stock worth $30,000 after purchasing an additional 4,048 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Journey Medical during the second quarter worth $36,000. JPMorgan Chase & Co. purchased a new position in shares of Journey Medical in the second quarter valued at $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Journey Medical during the 2nd quarter valued at $48,000. Hedge funds and other institutional investors own 7.25% of the company’s stock.

Journey Medical Price Performance

Journey Medical stock opened at $4.95 on Wednesday. The firm has a fifty day moving average of $7.53 and a 200-day moving average of $7.70. Journey Medical has a 52-week low of $4.31 and a 52-week high of $9.56. The company has a quick ratio of 1.53, a current ratio of 1.79 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $135.28 million, a P/E ratio of -10.53 and a beta of 1.03.

Journey Medical (NASDAQ:DERM) last posted its earnings results on Wednesday, March 25th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. Journey Medical had a negative net margin of 18.48% and a negative return on equity of 46.40%. The business had revenue of $16.08 million for the quarter, compared to analyst estimates of $18.86 million. As a group, analysts predict that Journey Medical will post -1.02 EPS 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.