FY2024 EPS Estimates for Journey Medical Boosted by B. Riley

Journey Medical Co. (NASDAQ:DERM - Free Report) - Analysts at B. Riley boosted their FY2024 earnings estimates for Journey Medical in a research report issued to clients and investors on Monday, November 18th. B. Riley analyst K. Patel now expects that the company will earn ($1.04) per share for the year, up from their previous forecast of ($1.13). The consensus estimate for Journey Medical's current full-year earnings is ($1.03) per share. B. Riley also issued estimates for Journey Medical's FY2025 earnings at ($0.61) EPS, FY2026 earnings at ($0.05) EPS, FY2027 earnings at $0.39 EPS and FY2028 earnings at $0.93 EPS.

A number of other research firms have also recently issued reports on DERM. Rodman & Renshaw assumed coverage on Journey Medical in a research report on Thursday, August 22nd. They set a "buy" rating and a $9.00 price objective on the stock. Lake Street Capital initiated coverage on shares of Journey Medical in a report on Friday, September 6th. They set a "buy" rating and a $9.00 price objective for the company. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $9.38.

Journey Medical Stock Performance

NASDAQ:DERM traded down $0.07 during trading hours on Wednesday, hitting $5.28. 25,607 shares of the company traded hands, compared to its average volume of 120,349. The company has a current ratio of 1.38, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81. Journey Medical has a twelve month low of $2.85 and a twelve month high of $8.11. The firm has a 50-day moving average of $5.63 and a 200 day moving average of $5.09. The stock has a market capitalization of $109.45 million, a price-to-earnings ratio of -5.69 and a beta of 0.92.

Institutional Investors Weigh In On Journey Medical

A number of hedge funds have recently made changes to their positions in DERM. Nwam LLC bought a new stake in Journey Medical during the third quarter worth about $59,000. TMD Wealth Management LLC bought a new position in Journey Medical in the 2nd quarter valued at $65,000. Kovitz Investment Group Partners LLC acquired a new position in Journey Medical in the third quarter worth $66,000. Geode Capital Management LLC boosted its stake in Journey Medical by 13.5% in the third quarter. Geode Capital Management LLC now owns 108,435 shares of the company's stock worth $613,000 after purchasing an additional 12,882 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in shares of Journey Medical during the third quarter worth $110,000. 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.