Journey Medical Co. (NASDAQ:DERM) Sees Large Decrease in Short Interest

Journey Medical Co. (NASDAQ:DERM) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 60,800 shares, a decrease of 20.7% from the October 15th total of 76,700 shares. Based on an average trading volume of 88,700 shares, the short-interest ratio is currently 0.7 days. Approximately 0.6% of the company’s shares are short sold.

Journey Medical Price Performance

NASDAQ:DERM traded up $0.08 during mid-day trading on Friday, hitting $5.16. The company’s stock had a trading volume of 64,240 shares, compared to its average volume of 120,919. The stock has a fifty day moving average of $5.60 and a 200-day moving average of $5.04. The company has a market capitalization of $106.97 million, a price-to-earnings ratio of -5.45 and a beta of 0.92. The company has a current ratio of 1.38, a quick ratio of 1.08 and a debt-to-equity ratio of 1.81. Journey Medical has a fifty-two week low of $2.85 and a fifty-two week high of $8.11.

Journey Medical (NASDAQ:DERM) last posted its earnings results on Monday, August 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). Journey Medical had a negative return on equity of 132.10% and a negative net margin of 31.74%. The company had revenue of $14.86 million for the quarter, compared to analyst estimates of $13.81 million. During the same quarter in the previous year, the firm posted ($0.46) earnings per share. As a group, equities analysts forecast that Journey Medical will post -1.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Journey Medical

Hedge funds have recently made changes to their positions in the business. Nwam LLC acquired a new position in Journey Medical during the first quarter valued at approximately $41,000. TMD Wealth Management LLC bought a new stake in Journey Medical during the second quarter worth $65,000. ORG Wealth Partners LLC acquired a new stake in Journey Medical in the third quarter valued at $110,000. Heron Bay Capital Management bought a new position in shares of Journey Medical in the 1st quarter valued at about $124,000. Finally, Rosalind Advisors Inc. bought a new stake in shares of Journey Medical in the 2nd quarter valued at about $644,000. 7.25% of the stock is owned by 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.