Journey Medical Co. (NASDAQ:DERM) Short Interest Update

Journey Medical Co. (NASDAQ:DERM) was the recipient of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 76,700 shares, a decrease of 12.5% from the September 30th total of 87,700 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average daily trading volume, of 62,700 shares, the days-to-cover ratio is currently 1.2 days.

Journey Medical Stock Down 4.3 %

Shares of NASDAQ DERM traded down $0.26 during mid-day trading on Tuesday, reaching $5.74. 80,044 shares of the company’s stock were exchanged, compared to its average volume of 117,298. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 1.75. The firm has a market capitalization of $114.87 million, a price-to-earnings ratio of -19.35 and a beta of 0.92. Journey Medical has a twelve month low of $2.85 and a twelve month high of $8.11. The business has a fifty day simple moving average of $5.42 and a 200 day simple moving average of $4.88.

Journey Medical (NASDAQ:DERM) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The firm had revenue of $14.86 million for the quarter, compared to the consensus estimate of $13.81 million. Journey Medical had a return on equity of 5.44% and a net margin of 1.09%. During the same quarter in the previous year, the business posted ($0.46) earnings per share. As a group, equities analysts expect that Journey Medical will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling at Journey Medical

In other Journey Medical news, CFO Joseph Benesch sold 9,324 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $5.47, for a total value of $51,002.28. Following the transaction, the chief financial officer now owns 47,331 shares of the company’s stock, valued at approximately $258,900.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 19.42% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC grew its holdings in shares of Journey Medical by 687.5% during the first quarter. Acadian Asset Management LLC now owns 222,663 shares of the company’s stock worth $817,000 after buying an additional 194,389 shares in the last quarter. PVG Asset Management Corp bought a new position in shares of Journey Medical during the second quarter worth about $894,000. Cambridge Investment Research Advisors Inc. bought a new position in Journey Medical in the second quarter valued at approximately $1,664,000. Nwam LLC bought a new position in Journey Medical in the first quarter valued at approximately $41,000. Finally, TMD Wealth Management LLC bought a new position in Journey Medical in the second quarter valued at approximately $65,000. 7.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DERM. Rodman & Renshaw began coverage on Journey Medical in a research report on Thursday, August 22nd. They set a “buy” rating and a $9.00 price target on the stock. Lake Street Capital began coverage on Journey Medical in a research report on Friday, September 6th. They set a “buy” rating and a $9.00 price target on the stock. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Journey Medical has a consensus rating of “Buy” and a consensus target price of $9.38.

About Journey Medical

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.