Journey Medical Corporation (NASDAQ:DERM) Receives Consensus Recommendation of “Hold” from Brokerages

Journey Medical Corporation (NASDAQ:DERM) has received a consensus recommendation of “Hold” from the five research firms that are presently covering the company, MarketBeat Ratings reports. One 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 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $12.1667.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Journey Medical in a research report on Wednesday, January 21st.

Hedge Funds Weigh In On Journey Medical

Several institutional investors have recently modified their holdings of the stock. Invesco Ltd. acquired a new position in shares of Journey Medical during the 4th quarter worth about $127,000. XTX Topco Ltd acquired a new stake in shares of Journey Medical in the 4th quarter valued at approximately $126,000. Ikarian Capital LLC bought a new position in Journey Medical during the 4th quarter worth approximately $1,939,000. Occudo Quantitative Strategies LP boosted its stake in Journey Medical by 22.3% during the 4th quarter. Occudo Quantitative Strategies LP now owns 18,913 shares of the company’s stock worth $146,000 after acquiring an additional 3,443 shares during the last quarter. Finally, Opaleye Management Inc. grew its holdings in Journey Medical by 0.4% during the fourth quarter. Opaleye Management Inc. now owns 975,000 shares of the company’s stock valued at $7,517,000 after purchasing an additional 3,936 shares during the period. 7.25% of the stock is currently owned by institutional investors and hedge funds.

Journey Medical Price Performance

DERM opened at $7.22 on Friday. The company has a fifty day moving average price of $8.14 and a two-hundred day moving average price of $7.83. The firm has a market capitalization of $240.14 million, a PE ratio of -20.63 and a beta of 0.81. Journey Medical has a 52 week low of $5.05 and a 52 week high of $9.56. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.12 and a current ratio of 1.42.

Journey Medical Company Profile

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.