HC Wainwright Reaffirms “Buy” Rating for Journey Medical (NASDAQ:DERM)

Journey Medical (NASDAQ:DERM)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research note issued on Monday, Benzinga reports. They presently have a $13.00 price objective on the stock. HC Wainwright‘s price objective would indicate a potential upside of 158.96% from the company’s current price.

DERM has been the subject of several other reports. Wall Street Zen cut shares of Journey Medical from a “buy” rating to a “hold” rating in a research report on Saturday, October 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Journey Medical in a research report on Thursday, October 15th. Finally, B. Riley Financial reiterated a “buy” rating and set a $15.00 price objective (up from $12.00) on shares of Journey Medical in a research report on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Journey Medical currently has a consensus rating of “Hold” and an average price target of $14.00.

Journey Medical Stock Performance

Shares of NASDAQ DERM opened at $5.02 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.41 and a current ratio of 1.59. Journey Medical has a 52-week low of $4.31 and a 52-week high of $9.56. The firm has a 50 day moving average price of $6.71 and a two-hundred day moving average price of $6.33. The stock has a market cap of $141.66 million, a P/E ratio of -22.82 and a beta of 1.10.

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

Institutional Trading of Journey Medical

Several large investors have recently made changes to their positions in the company. Salem Investment Counselors Inc. increased its position in Journey Medical by 21.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 35,319 shares of the company’s stock valued at $242,000 after buying an additional 6,119 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in Journey Medical by 176.9% in the second quarter. Squarepoint Ops LLC now owns 45,405 shares of the company’s stock worth $321,000 after acquiring an additional 29,007 shares in the last quarter. Pale Fire Capital SE grew its stake in Journey Medical by 9.7% in the second quarter. Pale Fire Capital SE now owns 528,584 shares of the company’s stock valued at $3,742,000 after acquiring an additional 46,597 shares during the period. Susquehanna International Group LLP grew its stake in Journey Medical by 57.2% in the second quarter. Susquehanna International Group LLP now owns 20,001 shares of the company’s stock valued at $142,000 after acquiring an additional 7,280 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new stake in Journey Medical in the second quarter valued at approximately $118,000. 7.25% of the stock is currently owned by institutional investors and hedge funds.

Journey Medical Company Profile

Journey Medical Corporation is a commercial-stage pharmaceutical company focused on developing and commercializing prescription products for medical dermatology. The company targets conditions that affect the skin, hair and nails, with an emphasis on products that address significant patient needs and can be marketed through its specialty sales organization.

Its portfolio includes Qbrexza (glycopyrronium) cloth, a topical treatment for primary axillary hyperhidrosis, and Targadox (doxycycline hyclate) delayed-release capsules, which are used to treat moderate-to-severe inflammatory acne vulgaris.