Journey Medical (NASDAQ:DERM) Given “Buy” Rating at HC Wainwright

Journey Medical (NASDAQ:DERM)‘s stock had its “buy” rating restated by HC Wainwright in a note issued to investors on Monday, Benzinga reports. They presently have a $13.00 target price on the stock. HC Wainwright‘s target price points to a potential upside of 158.96% from the company’s previous close.

A number of other equities analysts have also recently commented on DERM. Wall Street Zen cut shares of Journey Medical from a “buy” rating to a “hold” rating in a research note on Saturday, October 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Journey Medical in a research report on Thursday, October 15th. Finally, B. Riley Financial reaffirmed a “buy” rating and issued a $15.00 price target (up from $12.00) on shares of Journey Medical in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $14.00.

Journey Medical Price Performance

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. The company has a market capitalization of $141.66 million, a P/E ratio of -22.82 and a beta of 1.10. Journey Medical has a one year low of $4.31 and a one year high of $9.56. The stock has a 50 day moving average price of $6.71 and a 200-day moving average price of $6.33.

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

Institutional Investors Weigh In On Journey Medical

Several institutional investors have recently made changes to their positions in DERM. Salem Investment Counselors Inc. boosted its stake in shares of Journey Medical by 21.0% during the 3rd quarter. Salem Investment Counselors Inc. now owns 35,319 shares of the company’s stock worth $242,000 after purchasing an additional 6,119 shares during the period. Squarepoint Ops LLC raised its position in Journey Medical by 176.9% in the 2nd quarter. Squarepoint Ops LLC now owns 45,405 shares of the company’s stock worth $321,000 after purchasing an additional 29,007 shares during the period. Pale Fire Capital SE lifted 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 worth $3,742,000 after purchasing an additional 46,597 shares during the last quarter. Susquehanna International Group LLP lifted 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 worth $142,000 after purchasing an additional 7,280 shares during the last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Journey Medical during the second quarter valued at approximately $118,000. Institutional investors own 7.25% of the company’s stock.

About Journey Medical

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.