Journey Medical (NASDAQ:DERM) Stock Rating Reaffirmed as “Buy” by HC Wainwright

by · The Markets Daily

Journey Medical (NASDAQ:DERM – Get Free Report)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $13.00 price target on the stock. HC Wainwright‘s price objective would suggest a potential upside of 162.36% from the company’s previous close.

Other analysts have also issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Journey Medical in a research note on Thursday, October 15th. Wall Street Zen downgraded shares of Journey Medical from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. Finally, B. Riley Financial reaffirmed a “buy” rating and set a $15.00 price target (up from $12.00) on shares of Journey Medical in a report on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $14.00.

Read Our Latest Stock Analysis on Journey Medical

Journey Medical Price Performance

Shares of NASDAQ DERM opened at $4.96 on Monday. Journey Medical has a twelve month low of $4.31 and a twelve month high of $9.56. The firm has a fifty day simple moving average of $6.71 and a 200 day simple moving average of $6.33. The company has a market capitalization of $139.83 million, a PE ratio of -22.43 and a beta of 1.10. The company has a quick ratio of 1.41, a current ratio of 1.59 and a debt-to-equity ratio of 0.64.

Journey Medical (NASDAQ:DERM – Get Free Report) last released 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. Journey Medical had a negative net margin of 8.95% and a negative return on equity of 20.23%. The business had revenue of $18.51 million for the quarter, compared to analysts’ expectations of $18.36 million. On average, sell-side analysts forecast that Journey Medical will post -0.02 EPS for the current year.

Institutional Investors Weigh In On Journey Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in shares of Journey Medical by 42.7% during the 1st quarter. Royal Bank of Canada now owns 8,175 shares of the company’s stock worth $38,000 after acquiring an additional 2,446 shares during the period. Cetera Investment Advisers acquired a new stake in Journey Medical in the first quarter valued at $48,000. Persistent Asset Partners Ltd acquired a new stake in shares of Journey Medical during the second quarter valued at $71,000. Jefferies Financial Group Inc. acquired a new stake in Journey Medical in the 2nd quarter worth about $118,000. Finally, Susquehanna International Group LLP boosted its stake in Journey Medical by 57.2% in the 2nd quarter. Susquehanna International Group LLP now owns 20,001 shares of the company’s stock worth $142,000 after buying an additional 7,280 shares during the last quarter. Institutional investors and hedge funds own 7.25% of the company’s stock.

About Journey Medical

(Get Free Report)

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.

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