11,605 Shares in Journey Medical Co. (NASDAQ:DERM) Bought by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC bought a new stake in Journey Medical Co. (NASDAQ:DERM) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 11,605 shares of the company’s stock, valued at approximately $66,000. Kovitz Investment Group Partners LLC owned about 0.06% of Journey Medical as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DERM. Nwam LLC purchased a new stake in Journey Medical in the 3rd quarter valued at approximately $59,000. TMD Wealth Management LLC acquired a new position in Journey Medical during the second quarter worth $65,000. ORG Wealth Partners LLC purchased a new position in Journey Medical in the third quarter worth $110,000. PVG Asset Management Corp acquired a new stake in Journey Medical in the second quarter valued at $894,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Journey Medical during the 2nd quarter worth $1,664,000. Hedge funds and other institutional investors own 7.25% of the company’s stock.

Journey Medical Stock Up 0.6 %

Shares of NASDAQ DERM opened at $5.09 on Friday. The firm’s 50-day moving average is $5.62 and its two-hundred day moving average is $5.31. The company has a market capitalization of $106.33 million, a PE ratio of -5.41 and a beta of 0.89. Journey Medical Co. has a 12-month low of $2.85 and a 12-month high of $8.11. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.38 and a quick ratio of 1.03.

Wall Street Analysts Forecast Growth

DERM has been the subject of several recent analyst reports. Rodman & Renshaw initiated coverage on shares of Journey Medical in a research note on Thursday, August 22nd. They issued a “buy” rating and a $9.00 price objective for the company. Lake Street Capital started coverage on Journey Medical in a research note on Friday, September 6th. They set a “buy” rating and a $9.00 price target on the stock. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $9.38.

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.