Journey Medical Co. (NASDAQ:DERM) Director Justin Adam Smith Buys 30,000 Shares

Journey Medical Co. (NASDAQ:DERM) Director Justin Adam Smith purchased 30,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were bought at an average price of $3.47 per share, for a total transaction of $104,100.00. Following the completion of the transaction, the director now directly owns 134,717 shares in the company, valued at approximately $467,467.99. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Journey Medical Price Performance

Shares of NASDAQ DERM opened at $3.89 on Thursday. The firm has a market cap of $72.00 million, a price-to-earnings ratio of -11.11 and a beta of 0.83. Journey Medical Co. has a 1 year low of $1.02 and a 1 year high of $8.11.

Institutional Trading of Journey Medical

Hedge funds and other institutional investors have recently modified their holdings of the business. Citadel Advisors LLC acquired a new stake in shares of Journey Medical in the fourth quarter worth $65,000. Northern Trust Corp purchased a new stake in shares of Journey Medical during the fourth quarter worth $96,000. Virtu Financial LLC purchased a new stake in shares of Journey Medical during the fourth quarter worth $153,000. Finally, Vanguard Group Inc. raised its holdings in shares of Journey Medical by 78.1% during the fourth quarter. Vanguard Group Inc. now owns 129,448 shares of the company’s stock worth $746,000 after acquiring an additional 56,781 shares in the last quarter. Institutional investors and hedge funds own 7.25% of the company’s stock.

Analysts Set New Price Targets

Separately, Alliance Global Partners began coverage on Journey Medical in a research report on Friday, February 16th. They issued a “buy” rating and a $8.50 target price on the stock.

About Journey Medical

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 acne; Targadox, an oral doxycycline drug for adjunctive therapy for severe acne; Zilxi, a topical minocycline treatment for inflammatory lesions; Ximino, an oral minocycline drug for the treatment of moderate to severe acne; and Exelderm cream and solution for topical use.