Journey Medical (NASDAQ:DERM) Coverage Initiated at Lake Street Capital

Equities research analysts at Lake Street Capital initiated coverage on shares of Journey Medical (NASDAQ:DERM) in a report issued on Friday, Benzinga reports. The brokerage set a “buy” rating and a $9.00 price target on the stock. Lake Street Capital’s target price would indicate a potential upside of 92.31% from the company’s current price.

Several other analysts also recently weighed in on the stock. Roth Mkm assumed coverage on shares of Journey Medical in a research note on Friday, June 28th. They issued a “buy” rating and a $11.00 price target for the company. Rodman & Renshaw assumed coverage on Journey Medical in a report on Thursday, August 22nd. They issued a “buy” rating and a $9.00 price objective on the stock. Finally, Roth Capital upgraded Journey Medical to a “strong-buy” rating in a report on Friday, June 28th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Journey Medical has an average rating of “Buy” and a consensus price target of $9.38.

Journey Medical Stock Performance

Shares of NASDAQ DERM opened at $4.68 on Friday. The stock has a market cap of $93.66 million, a price-to-earnings ratio of -15.10 and a beta of 0.90. The stock’s 50-day moving average is $5.14 and its 200 day moving average is $4.39. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 1.75. Journey Medical has a 1-year low of $2.28 and a 1-year high of $8.11.

Journey Medical (NASDAQ:DERM) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.03). Journey Medical had a return on equity of 5.44% and a net margin of 1.09%. The business had revenue of $14.86 million for the quarter, compared to analysts’ expectations of $13.81 million. During the same period last year, the business posted ($0.46) earnings per share. On average, sell-side analysts anticipate that Journey Medical will post -1.04 EPS for the current fiscal year.

Insider Activity at Journey Medical

In other Journey Medical news, CFO Joseph Benesch sold 9,324 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $5.47, for a total value of $51,002.28. Following the sale, the chief financial officer now owns 47,331 shares of the company’s stock, valued at approximately $258,900.57. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 19.42% of the stock is currently owned by company insiders.

Institutional Trading of Journey Medical

A number of institutional investors have recently modified their holdings of DERM. Nwam LLC bought a new stake in shares of Journey Medical during the 1st quarter valued at about $41,000. TMD Wealth Management LLC purchased a new stake in shares of Journey Medical during the second quarter valued at approximately $65,000. Heron Bay Capital Management purchased a new stake in shares of Journey Medical during the first quarter valued at $124,000. Rosalind Advisors Inc. purchased a new position in shares of Journey Medical during the second quarter valued at approximately $644,000. Finally, Acadian Asset Management LLC grew its holdings in shares of Journey Medical by 687.5% in the first quarter. Acadian Asset Management LLC now owns 222,663 shares of the company’s stock worth $817,000 after acquiring an additional 194,389 shares during the period. 7.25% of the stock is currently owned by hedge funds and other institutional investors.

Journey Medical Company Profile

Journey Medical Corporation focuses on the development and commercialization of pharmaceutical products for the treatment of dermatological conditions in the United States. The company's marketed products include Qbrexza, a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Accutane, an oral isotretinoin drug to treat severe recalcitrant nodular acne; and Amzeeq, a topical formulation of minocycline for the treatment of inflammatory lesions of non-nodular moderate to severe acne vulgaris.