UBS Group AG Acquires 145,006 Shares of Journey Medical Corporation $DERM

UBS Group AG boosted its holdings in shares of Journey Medical Corporation (NASDAQ:DERM) by 99.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 290,226 shares of the company’s stock after purchasing an additional 145,006 shares during the period. UBS Group AG’s holdings in Journey Medical were worth $2,238,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DERM. Bank of America Corp DE lifted its holdings in 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 worth $30,000 after acquiring an additional 4,048 shares in the last quarter. Raymond James Financial Inc. bought a new position in Journey Medical during the second quarter worth about $36,000. JPMorgan Chase & Co. bought a new position in Journey Medical during the second quarter worth about $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Journey Medical during the second quarter worth about $48,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Journey Medical in the 3rd quarter valued at about $61,000. 7.25% of the stock is currently owned by institutional investors.

Journey Medical Stock Performance

DERM opened at $5.99 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.72 and a quick ratio of 1.47. The business’s 50-day moving average price is $5.54 and its two-hundred day moving average price is $7.16. The company has a market capitalization of $164.90 million, a price-to-earnings ratio of -16.19 and a beta of 1.03. Journey Medical Corporation has a 1 year low of $4.31 and a 1 year high of $9.56.

Journey Medical (NASDAQ:DERM) last released its earnings results on Wednesday, May 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The company had revenue of $15.96 million during the quarter, compared to analyst estimates of $15.47 million. Journey Medical had a negative net margin of 14.82% and a negative return on equity of 35.57%. Equities analysts expect that Journey Medical Corporation will post 0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $13.00 price target on shares of Journey Medical in a research note on Thursday, March 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Journey Medical in a research note on Monday, April 20th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.00.

About Journey Medical

Journey Medical Corp, headquartered in Fairfield, New Jersey, is a commercial dermatology company focused on acquiring, developing and marketing prescription dermatology products in the United States. Since its incorporation in 2019, the company has built a portfolio of both branded and generic topical therapies designed to address a range of skin conditions, including acne, atopic dermatitis, fungal infections and inflammatory lesions.

The company’s product lineup features antibiotic/anti-inflammatory combinations and corticosteroid-based formulations delivered through proprietary gel, cream and foam vehicles.