Punch & Associates Investment Management Inc. Purchases Shares of 536,000 Journey Medical Corporation $DERM

Punch & Associates Investment Management Inc. purchased a new stake in Journey Medical Corporation (NASDAQ:DERM) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 536,000 shares of the company’s stock, valued at approximately $3,795,000.

Other large investors also recently made changes to their positions in the company. Wasatch Advisors LP raised its holdings in shares of Journey Medical by 62.1% during the first quarter. Wasatch Advisors LP now owns 2,133,370 shares of the company’s stock worth $10,006,000 after acquiring an additional 817,095 shares during the period. J. Goldman & Co LP bought a new stake in Journey Medical in the 4th quarter valued at approximately $6,155,000. Millennium Management LLC bought a new stake in Journey Medical in the 4th quarter valued at approximately $3,530,000. Ikarian Capital LLC acquired a new position in Journey Medical during the 4th quarter worth approximately $1,939,000. Finally, Geode Capital Management LLC boosted its position in Journey Medical by 130.7% during the 2nd quarter. Geode Capital Management LLC now owns 262,353 shares of the company’s stock worth $1,884,000 after acquiring an additional 148,612 shares during the last quarter. Institutional investors own 7.25% of the company’s stock.

Journey Medical Price Performance

Shares of NASDAQ DERM opened at $7.55 on Thursday. 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 business’s 50 day moving average price is $6.79 and its two-hundred day moving average price is $6.53. The company has a market cap of $213.09 million, a PE ratio of -34.32 and a beta of 1.08. Journey Medical Corporation has a twelve month low of $4.31 and a twelve month high of $9.56.

Journey Medical (NASDAQ:DERM) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Journey Medical had a negative return on equity of 20.23% and a negative net margin of 8.95%.The company had revenue of $18.51 million during the quarter, compared to analysts’ expectations of $18.36 million. On average, analysts predict that Journey Medical Corporation will post -0.02 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DERM shares. B. Riley Financial reiterated a “buy” rating and issued a $15.00 price objective (up from $12.00) on shares of Journey Medical in a report on Thursday, August 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Journey Medical in a report on Friday, July 17th. Finally, Wall Street Zen raised shares of Journey Medical from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Journey Medical currently has an average rating of “Hold” and a consensus price target of $14.00.

Journey Medical 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.