B. Riley Financial Reaffirms Buy Rating for Journey Medical (NASDAQ:DERM)

Journey Medical (NASDAQ:DERM)‘s stock had its “buy” rating reiterated by equities researchers at B. Riley Financial in a report released on Friday, Benzinga reports. They currently have a $13.00 target price on the stock, down from their previous target price of $15.00. B. Riley Financial‘s target price indicates a potential upside of 201.62% from the stock’s previous close.

DERM has been the topic of several other reports. Wall Street Zen lowered Journey Medical from a “buy” rating to a “hold” rating in a research report on Saturday, October 17th. HC Wainwright restated a “buy” rating and set a $13.00 price objective on shares of Journey Medical in a research note on Monday, October 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Journey Medical in a report on Thursday, October 15th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $13.00.

Journey Medical Trading Down 1.8%

Shares of NASDAQ DERM opened at $4.31 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.59 and a debt-to-equity ratio of 0.64. The stock’s 50 day moving average price is $5.96 and its two-hundred day moving average price is $6.49. Journey Medical has a 52-week low of $4.25 and a 52-week high of $9.56. The stock has a market capitalization of $121.63 million, a P/E ratio of -19.57 and a beta of 1.14.

Journey Medical (NASDAQ:DERM) last issued its earnings results on Thursday, November 12th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The firm had revenue of $18.97 million during the quarter, compared to analyst estimates of $20.32 million. Journey Medical had a negative return on equity of 20.23% and a negative net margin of 8.95%. On average, analysts anticipate that Journey Medical will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Journey Medical

A number of large investors have recently bought and sold shares of the business. Wasatch Advisors LP boosted its stake in Journey Medical by 34.0% in the second quarter. Wasatch Advisors LP now owns 2,858,930 shares of the company’s stock valued at $20,241,000 after acquiring an additional 725,560 shares during the period. Punch & Associates Investment Management Inc. bought a new position in shares of Journey Medical during the second quarter valued at approximately $3,795,000. Pale Fire Capital SE grew its holdings in shares of Journey Medical by 9.7% during the second quarter. Pale Fire Capital SE now owns 528,584 shares of the company’s stock valued at $3,742,000 after purchasing an additional 46,597 shares during the last quarter. First Eagle Investment Management LLC bought a new position in shares of Journey Medical during the third quarter valued at approximately $3,305,000. Finally, J. Goldman & Co LP acquired a new stake in shares of Journey Medical during the 2nd quarter worth approximately $974,000. Institutional investors own 7.25% of the company’s stock.

Journey Medical Company Profile

Journey Medical Corporation is a commercial-stage pharmaceutical company focused on developing and marketing prescription treatments for dermatological conditions. Founded in 2014 and based in Scottsdale, Arizona, the company primarily serves the U.S. market. Its portfolio includes treatments for conditions such as acne, rosacea, excessive underarm sweating and fungal skin infections. Products include Amzeeq and Zilxi, topical minocycline therapies; Qbrexza, a topical treatment for primary axillary hyperhidrosis; and the oral rosacea treatment Emrosi.