Journey Medical Co. (NASDAQ:DERM) Short Interest Up 28.0% in March

by · The Markets Daily

Journey Medical Co. (NASDAQ:DERM – Get Free Report) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 150,100 shares, a growth of 28.0% from the March 15th total of 117,300 shares. Based on an average daily trading volume, of 67,900 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.5% of the shares of the company are sold short.

Wall Street Analyst Weigh In

DERM has been the topic of several research analyst reports. Alliance Global Partners reiterated a “buy” rating on shares of Journey Medical in a research note on Thursday, March 27th. Industrial Alliance Securities set a $10.50 price objective on Journey Medical in a report on Thursday, March 27th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $9.88.

View Our Latest Stock Report on DERM

Insider Buying and Selling

In other Journey Medical news, CEO Claude Maraoui sold 23,508 shares of Journey Medical stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $5.19, for a total value of $122,006.52. Following the sale, the chief executive officer now owns 2,139,922 shares of the company’s stock, valued at approximately $11,106,195.18. The trade was a 1.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 105,831 shares of company stock valued at $536,622. 13.16% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DERM. Tang Capital Management LLC purchased a new stake in shares of Journey Medical in the 4th quarter valued at about $6,747,000. Cetera Investment Advisers grew its stake in Journey Medical by 21.8% in the 4th quarter. Cetera Investment Advisers now owns 13,839 shares of the company’s stock worth $54,000 after buying an additional 2,478 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Journey Medical in the 4th quarter valued at $174,000. Kovitz Investment Group Partners LLC grew its holdings in shares of Journey Medical by 112.9% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 24,710 shares of the company’s stock valued at $97,000 after purchasing an additional 13,105 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new stake in Journey Medical in the fourth quarter worth $80,000. Institutional investors own 7.25% of the company’s stock.

Journey Medical Stock Performance

Shares of NASDAQ:DERM traded up $0.04 during trading on Friday, hitting $6.25. 53,673 shares of the company were exchanged, compared to its average volume of 80,171. The company has a market cap of $144.40 million, a PE ratio of -6.65 and a beta of 0.90. Journey Medical has a 52-week low of $3.20 and a 52-week high of $7.29. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.38 and a quick ratio of 1.03. The stock has a 50 day moving average of $5.73 and a 200 day moving average of $5.28.

Journey Medical (NASDAQ:DERM – Get Free Report) last issued its earnings results on Wednesday, March 26th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.30. Journey Medical had a negative return on equity of 132.10% and a negative net margin of 31.74%. The business had revenue of $14.30 million during the quarter, compared to the consensus estimate of $14.21 million. As a group, equities research analysts predict that Journey Medical will post -1.02 EPS for the current year.

About Journey Medical

(Get Free Report)

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.

Further Reading