Journey Medical (NASDAQ:DERM) Shares Down 1.2% – What’s Next?

Journey Medical Corporation (NASDAQ:DERM)’s share price fell 1.2% on Friday . The company traded as low as $6.20 and last traded at $6.37. Approximately 47,040 shares traded hands during trading, a decline of 69% from the average session volume of 150,089 shares. The stock had previously closed at $6.45.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wall Street Zen raised Journey Medical from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Journey Medical in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $13.00.

Journey Medical Price Performance

The company has a market cap of $175.37 million, a PE ratio of -17.22 and a beta of 1.07. The business’s 50 day moving average price is $6.53 and its 200-day moving average price is $6.74. The company has a quick ratio of 1.47, a current ratio of 1.72 and a debt-to-equity ratio of 0.74.

Journey Medical (NASDAQ:DERM) last posted its earnings results on Wednesday, May 13th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The firm had revenue of $15.96 million for the quarter, compared to analyst estimates of $15.47 million. Journey Medical had a negative return on equity of 35.57% and a negative net margin of 14.82%. As a group, analysts forecast that Journey Medical Corporation will post 0.17 earnings per share for the current year.

Hedge Funds Weigh In On Journey Medical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE increased 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 acquiring an additional 4,048 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Journey Medical in the second quarter worth about $36,000. Royal Bank of Canada boosted its holdings in Journey Medical by 42.7% in the first quarter. Royal Bank of Canada now owns 8,175 shares of the company’s stock valued at $38,000 after purchasing an additional 2,446 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in Journey Medical in the second quarter valued at about $41,000. Finally, Cetera Investment Advisers acquired a new stake in Journey Medical during the 1st quarter valued at approximately $48,000. 7.25% of the stock is owned by hedge funds and other institutional investors.

Journey Medical Company Profile

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.