FY2024 EPS Forecast for Journey Medical Lowered by Analyst

Journey Medical Co. (NASDAQ:DERM - Free Report) - Research analysts at Roth Capital lowered their FY2024 earnings per share estimates for Journey Medical in a note issued to investors on Monday, November 18th. Roth Capital analyst J. Wittes now forecasts that the company will post earnings per share of ($1.00) for the year, down from their prior estimate of ($0.93). The consensus estimate for Journey Medical's current full-year earnings is ($0.99) per share. Roth Capital also issued estimates for Journey Medical's Q4 2024 earnings at ($0.22) EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at $0.09 EPS, Q4 2025 earnings at $0.12 EPS and FY2025 earnings at $0.15 EPS.

Other equities research analysts have also recently issued reports about the stock. Lake Street Capital started coverage on shares of Journey Medical in a report on Friday, September 6th. They issued a "buy" rating and a $9.00 target price on the stock. Rodman & Renshaw assumed coverage on Journey Medical in a research note on Thursday, August 22nd. They issued a "buy" rating and a $9.00 price objective on the stock. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $9.38.

Journey Medical Stock Down 2.2 %

DERM stock opened at $5.23 on Thursday. Journey Medical has a twelve month low of $2.85 and a twelve month high of $8.11. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.38. The business has a 50 day moving average price of $5.63 and a two-hundred day moving average price of $5.09.

Hedge Funds Weigh In On Journey Medical

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Journey Medical by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 108,435 shares of the company's stock valued at $613,000 after purchasing an additional 12,882 shares during the period. Kovitz Investment Group Partners LLC bought a new stake in shares of Journey Medical in the third quarter valued at about $66,000. Nwam LLC bought a new stake in shares of Journey Medical in the third quarter valued at about $59,000. ORG Wealth Partners LLC acquired a new position in shares of Journey Medical in the third quarter valued at about $110,000. Finally, PVG Asset Management Corp bought a new position in Journey Medical during the second quarter worth about $894,000. 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.

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