B. Riley Increases Earnings Estimates for Journey Medical

Journey Medical Corporation (NASDAQ:DERM) – Analysts at B. Riley raised their FY2029 earnings per share (EPS) estimates for Journey Medical in a report issued on Thursday, November 13th. B. Riley analyst M. Mamtani now expects that the company will post earnings of $0.93 per share for the year, up from their previous estimate of $0.85. The consensus estimate for Journey Medical’s current full-year earnings is ($1.02) per share.

A number of other research firms have also commented on DERM. Zacks Research raised shares of Journey Medical from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Journey Medical in a research report on Wednesday, October 8th. Lake Street Capital increased their target price on shares of Journey Medical from $9.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Finally, HC Wainwright assumed coverage on shares of Journey Medical in a report on Monday, August 25th. They issued a “buy” rating and a $13.00 price target on the stock. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.17.

Journey Medical Stock Down 2.7%

Shares of Journey Medical stock traded down $0.21 during midday trading on Friday, reaching $7.48. 143,313 shares of the company’s stock traded hands, compared to its average volume of 124,969. The company has a market cap of $196.83 million, a price-to-earnings ratio of -21.47 and a beta of 0.80. Journey Medical has a 52 week low of $3.54 and a 52 week high of $9.40. The company’s 50 day simple moving average is $7.63 and its 200 day simple moving average is $7.32. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.95 and a current ratio of 1.27.

Journey Medical (NASDAQ:DERM) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). Journey Medical had a negative return on equity of 42.71% and a negative net margin of 14.58%.The company had revenue of $17.63 million during the quarter, compared to analyst estimates of $18.85 million.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Police & Firemen s Retirement System of New Jersey bought a new position in Journey Medical during the second quarter worth about $29,000. Bank of America Corp DE boosted its stake in shares of Journey Medical by 4,707.0% during the 2nd quarter. Bank of America Corp DE now owns 4,134 shares of the company’s stock worth $30,000 after acquiring an additional 4,048 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Journey Medical during the 2nd quarter worth approximately $36,000. JPMorgan Chase & Co. bought a new stake in Journey Medical in the 2nd quarter valued at $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Journey Medical during the 2nd quarter valued at $48,000. Institutional investors and hedge funds own 7.25% of the company’s stock.

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.