Brokerages Set Journey Medical Corporation (NASDAQ:DERM) Target Price at $12.17

Shares of Journey Medical Corporation (NASDAQ:DERM) have been given an average recommendation of “Hold” by the five ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $12.1667.

DERM has been the subject of several recent research reports. Lake Street Capital increased their price target on Journey Medical from $9.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. Zacks Research raised Journey Medical from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. HC Wainwright started coverage on shares of Journey Medical in a research report on Monday, August 25th. They set a “buy” rating and a $13.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Journey Medical in a report on Wednesday, October 8th.

Journey Medical Price Performance

Shares of NASDAQ DERM opened at $7.69 on Thursday. The firm has a 50-day simple moving average of $7.77 and a 200-day simple moving average of $7.40. The company has a quick ratio of 1.12, a current ratio of 1.42 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $208.71 million, a price-to-earnings ratio of -21.97 and a beta of 0.80. Journey Medical has a 52 week low of $3.54 and a 52 week high of $9.40.

Journey Medical (NASDAQ:DERM) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). Journey Medical had a negative net margin of 14.58% and a negative return on equity of 39.94%. The business had revenue of $17.63 million for the quarter, compared to analysts’ expectations of $18.85 million. On average, equities analysts predict that Journey Medical will post -1.02 earnings per share for the current fiscal year.

Institutional Trading of Journey Medical

Hedge funds and other institutional investors have recently modified their holdings of the business. Police & Firemen s Retirement System of New Jersey purchased a new stake in Journey Medical in the 2nd quarter valued at about $29,000. Bank of America Corp DE increased its position in shares of Journey Medical by 4,707.0% during the second quarter. Bank of America Corp DE now owns 4,134 shares of the company’s stock valued at $30,000 after acquiring an additional 4,048 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Journey Medical in the 2nd quarter valued at approximately $36,000. JPMorgan Chase & Co. purchased a new stake in shares of Journey Medical in the 2nd quarter valued at approximately $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Journey Medical during the 2nd quarter worth approximately $48,000. 7.25% of the stock is owned by institutional investors and hedge funds.

About Journey Medical

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.