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

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

Journey Medical Price Performance

Shares of DERM stock traded down $0.26 during trading hours on Tuesday, hitting $5.74. 80,044 shares of the company’s stock were exchanged, compared to its average volume of 117,298. The stock’s 50-day moving average is $5.42 and its 200-day moving average is $4.88. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.36 and a quick ratio of 1.08. The stock has a market cap of $114.87 million, a price-to-earnings ratio of -19.35 and a beta of 0.92. Journey Medical has a 52 week low of $2.85 and a 52 week high of $8.11.

Journey Medical (NASDAQ:DERM) last announced its 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). The business 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 company posted ($0.46) EPS. As a group, research analysts forecast that Journey Medical will post -1.04 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Journey Medical

In other Journey Medical news, CFO Joseph Benesch sold 9,324 shares of the business’s 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 in the company, valued at $258,900.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 19.42% of the company’s stock.

Hedge Funds Weigh In On Journey Medical

Several large investors have recently made changes to their positions in DERM. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Journey Medical during the second quarter valued at $1,664,000. Acadian Asset Management LLC lifted its stake 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 valued at $817,000 after acquiring an additional 194,389 shares during the period. PVG Asset Management Corp acquired a new position in shares of Journey Medical during the second quarter valued at $894,000. Rosalind Advisors Inc. acquired a new position in shares of Journey Medical during the second quarter valued at $644,000. Finally, Heron Bay Capital Management acquired a new position in shares of Journey Medical during the first quarter valued at $124,000. Institutional investors and hedge funds own 7.25% of the company’s stock.

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.