Short Interest in Journey Medical Co. (NASDAQ:DERM) Rises By 10.5%

by · The Markets Daily

Journey Medical Co. (NASDAQ:DERM – Get Free Report) saw a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 87,700 shares, an increase of 10.5% from the September 15th total of 79,400 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily trading volume, of 55,400 shares, the short-interest ratio is presently 1.6 days.

Insider Transactions at Journey Medical

In other news, CFO Joseph Benesch sold 9,324 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $5.47, for a total value of $51,002.28. Following the completion of 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 document filed with the SEC, which can be accessed through this link. Insiders own 19.42% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. TMD Wealth Management LLC bought a new position in Journey Medical during the second quarter worth $65,000. Nwam LLC acquired a new stake in Journey Medical during the first quarter worth about $41,000. ORG Wealth Partners LLC acquired a new position in Journey Medical in the 3rd quarter valued at approximately $110,000. Heron Bay Capital Management bought a new stake in shares of Journey Medical in the 1st quarter worth approximately $124,000. Finally, Rosalind Advisors Inc. acquired a new stake in shares of Journey Medical during the 2nd quarter worth approximately $644,000. Institutional investors own 7.25% of the company’s stock.

Journey Medical Stock Down 4.9 %

Shares of NASDAQ DERM traded down $0.31 during trading hours on Thursday, hitting $5.97. The stock had a trading volume of 57,493 shares, compared to its average volume of 117,341. The company has a market capitalization of $119.48 million, a P/E ratio of -19.32 and a beta of 0.92. The firm’s 50-day moving average price is $5.22 and its two-hundred day moving average price is $4.76. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.08 and a current ratio of 1.36. Journey Medical has a 52 week low of $2.85 and a 52 week high of $8.11.

Journey Medical (NASDAQ:DERM – Get Free Report) last issued 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). Journey Medical had a return on equity of 5.44% and a net margin of 1.09%. The business had revenue of $14.86 million during the quarter, compared to the consensus estimate of $13.81 million. During the same quarter in the prior year, the company posted ($0.46) earnings per share. Analysts anticipate that Journey Medical will post -1.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DERM. Roth Capital raised shares of Journey Medical to a “strong-buy” rating in a research note on Friday, June 28th. Rodman & Renshaw assumed coverage on Journey Medical in a report on Thursday, August 22nd. They issued a “buy” rating and a $9.00 price target on the stock. Lake Street Capital started coverage on Journey Medical in a research report on Friday, September 6th. They set a “buy” rating and a $9.00 price objective for the company. Finally, Roth Mkm assumed coverage on Journey Medical in a report on Friday, June 28th. They issued a “buy” rating and a $11.00 target price on the stock. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Journey Medical currently has an average rating of “Buy” and an average target price of $9.38.

View Our Latest Analysis on DERM

Journey Medical Company Profile

(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.

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