Journey Medical (NASDAQ:DERM) Rating Lowered to “Hold” at Wall Street Zen

Journey Medical (NASDAQ:DERM) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

Several other research firms have also recently issued reports on DERM. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Journey Medical in a research note on Thursday. B. Riley Financial reiterated 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 investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $14.00.

Journey Medical Price Performance

DERM opened at $4.97 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.59 and a debt-to-equity ratio of 0.64. The firm has a market cap of $140.25 million, a P/E ratio of -22.59 and a beta of 1.10. Journey Medical has a 52 week low of $4.31 and a 52 week high of $9.56. The business’s fifty day simple moving average is $6.86 and its 200 day simple moving average is $6.32.

Journey Medical (NASDAQ:DERM) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Journey Medical had a negative return on equity of 20.23% and a negative net margin of 8.95%. The firm had revenue of $18.51 million during the quarter, compared to analysts’ expectations of $18.36 million. As a group, equities research analysts anticipate that Journey Medical will post -0.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Journey Medical

Institutional investors have recently bought and sold shares of the stock. Salem Investment Counselors Inc. raised its stake in Journey Medical by 21.0% during the third quarter. Salem Investment Counselors Inc. now owns 35,319 shares of the company’s stock worth $242,000 after purchasing an additional 6,119 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of Journey Medical by 176.9% in the 2nd quarter. Squarepoint Ops LLC now owns 45,405 shares of the company’s stock valued at $321,000 after purchasing an additional 29,007 shares during the last quarter. Pale Fire Capital SE boosted its holdings in shares of Journey Medical by 9.7% in the 2nd quarter. Pale Fire Capital SE now owns 528,584 shares of the company’s stock valued at $3,742,000 after purchasing an additional 46,597 shares during the last quarter. Susquehanna International Group LLP grew its stake in shares of Journey Medical by 57.2% during the 2nd quarter. Susquehanna International Group LLP now owns 20,001 shares of the company’s stock valued at $142,000 after buying an additional 7,280 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Journey Medical during the 2nd quarter valued at $118,000. 7.25% of the stock is currently owned by hedge funds and other institutional investors.

Journey Medical Company Profile

Journey Medical Corporation (NASDAQ: DERM) is a commercial-stage pharmaceutical company focused on developing, acquiring and commercializing prescription therapies for medical dermatology. The company’s portfolio is intended to address conditions treated by dermatologists, including hyperhidrosis, acne, fungal skin infections and inflammatory skin disorders.

Journey Medical’s marketed products include Qbrexza (glycopyrronium tosylate) cloth for primary axillary hyperhidrosis, Targadox (doxycycline hyclate) capsules for moderate-to-severe inflammatory lesions associated with acne vulgaris, and Exelderm (sulconazole nitrate) cream and solution for certain fungal skin infections.