Journey Medical’s (DERM) Buy Rating Reaffirmed at B. Riley Financial

B. Riley Financial reaffirmed their buy rating on shares of Journey Medical (NASDAQ:DERM) in a research report sent to investors on Friday,Benzinga reports. The firm currently has a $13.00 price objective on the stock, down from their previous price objective of $15.00.

DERM has been the subject of several other research reports. HC Wainwright reissued a “buy” rating and issued a $13.00 price objective on shares of Journey Medical in a report on Monday, October 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Journey Medical in a report on Thursday, October 15th. Finally, Wall Street Zen downgraded shares of Journey Medical from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. Two investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $13.00.

Journey Medical Stock Down 1.4%

NASDAQ DERM traded down $0.06 during trading hours on Friday, hitting $4.33. 387,161 shares of the company traded hands, compared to its average volume of 185,290. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.41 and a current ratio of 1.59. The business’s 50-day moving average is $5.89 and its 200-day moving average is $6.47. The stock has a market capitalization of $122.19 million, a price-to-earnings ratio of -24.05 and a beta of 1.14. Journey Medical has a twelve month low of $4.00 and a twelve month high of $9.56.

Journey Medical (NASDAQ:DERM) last posted its quarterly earnings results on Thursday, November 12th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The company had revenue of $18.97 million for the quarter, compared to analyst estimates of $20.32 million. Journey Medical had a negative return on equity of 16.15% and a negative net margin of 7.34%. Sell-side analysts anticipate that Journey Medical will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On Journey Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of DERM. Marshall Wace LLP raised its stake in Journey Medical by 38.9% in the third quarter. Marshall Wace LLP now owns 194,311 shares of the company’s stock valued at $1,329,000 after buying an additional 54,468 shares during the period. First Eagle Investment Management LLC acquired a new stake in shares of Journey Medical in the third quarter valued at approximately $3,305,000. Allegiance Financial Group Advisory Services LLC acquired a new stake in shares of Journey Medical in the third quarter valued at approximately $68,000. Salem Investment Counselors Inc. boosted its stake in shares of Journey Medical by 21.0% during the 3rd quarter. Salem Investment Counselors Inc. now owns 35,319 shares of the company’s stock worth $242,000 after acquiring an additional 6,119 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in shares of Journey Medical by 176.9% during the 2nd quarter. Squarepoint Ops LLC now owns 45,405 shares of the company’s stock worth $321,000 after acquiring an additional 29,007 shares during the period. Institutional investors own 7.25% of the company’s stock.

Journey Medical News Summary

Investors following DERM have been watching these news items:

• Positive Sentiment: Journey Medical’s third-quarter loss narrowed and revenue increased, and a report said shares gained in after-hours trading following the results. Article
• Neutral Sentiment: B. Riley reaffirmed its “Buy” rating but cut its price target to $13 from $15. The lower target is a cautionary change, though it remains well above the $4.48 reference price cited in the report. Article
• Negative Sentiment: Quarterly adjusted loss was $0.05 per share, worse than the $0.02 loss analysts expected. Revenue of $18.97 million also missed the $20.32 million consensus, which could weigh on sentiment despite the year-over-year improvement. Earnings report

About Journey Medical

Journey Medical Corporation is a commercial-stage pharmaceutical company focused on developing and marketing prescription treatments for dermatological conditions. Founded in 2014 and based in Scottsdale, Arizona, the company primarily serves the U.S. market. Its portfolio includes treatments for conditions such as acne, rosacea, excessive underarm sweating and fungal skin infections. Products include Amzeeq and Zilxi, topical minocycline therapies; Qbrexza, a topical treatment for primary axillary hyperhidrosis; and the oral rosacea treatment Emrosi.