Journey Medical (NASDAQ:DERM) Announces Quarterly Earnings Results

Journey Medical (NASDAQ:DERM) announced its quarterly earnings results on Wednesday. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01), Zacks reports. The company had revenue of $17.63 million during the quarter, compared to analyst estimates of $18.85 million. Journey Medical had a negative return on equity of 48.69% and a negative net margin of 15.49%.

Journey Medical Stock Performance

DERM stock traded down $1.22 during midday trading on Thursday, hitting $7.86. The stock had a trading volume of 607,088 shares, compared to its average volume of 123,780. Journey Medical has a 52 week low of $3.54 and a 52 week high of $9.40. The company has a current ratio of 1.27, a quick ratio of 0.95 and a debt-to-equity ratio of 1.11. The stock has a 50-day simple moving average of $7.62 and a 200 day simple moving average of $7.32. The firm has a market capitalization of $206.80 million, a price-to-earnings ratio of -20.67 and a beta of 0.80.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. HC Wainwright assumed coverage on Journey Medical in a research note on Monday, August 25th. They issued a “buy” rating and a $13.00 price objective on the stock. Zacks Research raised shares of Journey Medical from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Lake Street Capital boosted their price objective on shares of Journey Medical from $9.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Journey Medical in a research note on Wednesday, October 8th. Three research 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.17.

Institutional Investors Weigh In On Journey Medical

Several large investors have recently modified their holdings of DERM. Wasatch Advisors LP raised its stake in Journey Medical by 23.8% during the second quarter. Wasatch Advisors LP now owns 1,152,059 shares of the company’s stock worth $8,272,000 after acquiring an additional 221,456 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Journey Medical by 130.7% in the 2nd quarter. Geode Capital Management LLC now owns 262,353 shares of the company’s stock worth $1,884,000 after purchasing an additional 148,612 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Journey Medical by 8.9% during the 3rd quarter. Vanguard Group Inc. now owns 615,229 shares of the company’s stock worth $4,380,000 after purchasing an additional 50,241 shares in the last quarter. Opaleye Management Inc. lifted its holdings in Journey Medical by 37.0% during the 2nd quarter. Opaleye Management Inc. now owns 95,000 shares of the company’s stock valued at $682,000 after purchasing an additional 25,677 shares during the last quarter. Finally, Creative Planning boosted its position in Journey Medical by 178.5% in the second quarter. Creative Planning now owns 32,764 shares of the company’s stock valued at $235,000 after buying an additional 21,000 shares in the last quarter. 7.25% of the stock is currently owned by institutional investors.

Journey Medical Company Profile

Journey Medical Corporation focuses on the development and commercialization of pharmaceutical products for the treatment of dermatological conditions in the United States. The company's marketed products include Qbrexza, a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Accutane, an oral isotretinoin drug to treat severe recalcitrant nodular acne; and Amzeeq, a topical formulation of minocycline for the treatment of inflammatory lesions of non-nodular moderate to severe acne vulgaris.