Journey Medical (NASDAQ:DERM) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen cut shares of Journey Medical (NASDAQ:DERM) from a buy rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Several other equities research analysts have also recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Journey Medical in a report on Thursday. B. Riley Financial reiterated a “buy” rating and issued a $15.00 target price (up from $12.00) on shares of Journey Medical in a research report on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $14.00.

Journey Medical Stock Performance

Shares of NASDAQ DERM opened at $4.97 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.41 and a current ratio of 1.59. The company has a market cap of $140.27 million, a P/E ratio of -22.59 and a beta of 1.10. The firm’s fifty day moving average is $6.86 and its two-hundred day moving average is $6.31. Journey Medical has a 52-week low of $4.31 and a 52-week high of $9.56.

Journey Medical (NASDAQ:DERM) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. The business had revenue of $18.51 million for the quarter, compared to analysts’ expectations of $18.36 million. Journey Medical had a negative net margin of 8.95% and a negative return on equity of 20.23%. As a group, analysts anticipate that Journey Medical will post -0.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Journey Medical

Institutional investors have recently modified their holdings of the stock. Royal Bank of Canada boosted its holdings 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 purchasing an additional 2,446 shares during the period. Persistent Asset Partners Ltd purchased a new stake in Journey Medical during the 2nd quarter valued at $71,000. Cetera Investment Advisers purchased a new stake in Journey Medical during the 1st quarter valued at $48,000. Jefferies Financial Group Inc. purchased a new stake in Journey Medical during the 2nd quarter valued at $118,000. Finally, Susquehanna International Group LLP raised its holdings in Journey Medical by 57.2% during the 2nd quarter. Susquehanna International Group LLP now owns 20,001 shares of the company’s stock valued at $142,000 after buying an additional 7,280 shares during the period. 7.25% of the stock is owned by institutional investors.

Journey Medical Company Profile

Journey Medical Corporation (NASDAQ: DERM) is a commercial-stage pharmaceutical company focused on developing, acquiring and commercializing prescription therapies for medical dermatology. The company’s portfolio is intended to address conditions treated by dermatologists, including hyperhidrosis, acne, fungal skin infections and inflammatory skin disorders.

Journey Medical’s marketed products include Qbrexza (glycopyrronium tosylate) cloth for primary axillary hyperhidrosis, Targadox (doxycycline hyclate) capsules for moderate-to-severe inflammatory lesions associated with acne vulgaris, and Exelderm (sulconazole nitrate) cream and solution for certain fungal skin infections.