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

Journey Medical Corporation (NASDAQ:DERM) has earned a consensus recommendation of “Hold” from the four brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $13.00.

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

Journey Medical Stock Performance

Journey Medical stock opened at $6.34 on Monday. Journey Medical has a 1 year low of $4.31 and a 1 year high of $9.56. The firm’s 50-day moving average is $5.57 and its 200-day moving average is $6.99. 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 company has a market cap of $174.54 million, a P/E ratio of -17.13 and a beta of 1.09.

Journey Medical (NASDAQ:DERM) last announced its quarterly earnings data 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). The business had revenue of $15.96 million for the quarter, compared to the consensus estimate of $15.47 million. Journey Medical had a negative net margin of 14.82% and a negative return on equity of 35.57%. On average, equities analysts expect that Journey Medical will post 0.17 earnings per share for the current year.

Institutional Investors Weigh In On Journey Medical

Hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its holdings in Journey Medical by 198.1% in the 1st quarter. Bank of America Corp DE now owns 32,206 shares of the company’s stock worth $151,000 after buying an additional 21,401 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Journey Medical by 42.7% in the first 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 in the last quarter. Pale Fire Capital SE increased its holdings in shares of Journey Medical by 8.4% during the first quarter. Pale Fire Capital SE now owns 481,987 shares of the company’s stock valued at $2,261,000 after purchasing an additional 37,345 shares during the period. Cetera Investment Advisers bought a new stake in shares of Journey Medical during the first quarter valued at about $48,000. Finally, Bank of New York Mellon Corp lifted its holdings in Journey Medical by 29.4% in the first quarter. Bank of New York Mellon Corp now owns 37,195 shares of the company’s stock worth $174,000 after purchasing an additional 8,457 shares during the period. Institutional investors own 7.25% of the company’s stock.

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.