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

UBS Group AG raised its position in Journey Medical Corporation (NASDAQ:DERM) by 99.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 290,226 shares of the company’s stock after buying an additional 145,006 shares during the period. UBS Group AG owned about 0.87% of Journey Medical worth $2,238,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE boosted its position in Journey Medical by 4,707.0% in the 2nd quarter. Bank of America Corp DE now owns 4,134 shares of the company’s stock valued at $30,000 after buying an additional 4,048 shares during the last quarter. Raymond James Financial Inc. bought a new position in Journey Medical in the 2nd quarter valued at $36,000. JPMorgan Chase & Co. bought a new position in Journey Medical in the 2nd quarter valued at $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Journey Medical in the 2nd quarter valued at $48,000. Finally, Russell Investments Group Ltd. bought a new position in Journey Medical in the 3rd quarter valued at $61,000. 7.25% of the stock is currently owned by institutional investors.

Journey Medical Stock Down 2.1%

NASDAQ:DERM opened at $5.99 on Thursday. Journey Medical Corporation has a 12-month low of $4.31 and a 12-month high of $9.56. The company has a quick ratio of 1.47, a current ratio of 1.72 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $164.90 million, a P/E ratio of -16.19 and a beta of 1.03. The stock’s fifty day simple moving average is $5.54 and its 200-day simple moving average is $7.16.

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

Analysts Set New Price Targets

DERM has been the topic of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $13.00 price objective on shares of Journey Medical in a research report on Thursday, March 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Journey Medical in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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.