Journey Medical Co. (NASDAQ:DERM) Sees Significant Growth in Short Interest

Journey Medical Co. (NASDAQ:DERM - Get Free Report) saw a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 76,700 shares, a growth of 15.9% from the November 15th total of 66,200 shares. Based on an average daily trading volume, of 105,000 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.8% of the shares of the company are short sold.

Journey Medical Stock Performance

Shares of NASDAQ:DERM traded down $0.18 on Monday, hitting $4.91. 38,453 shares of the company were exchanged, compared to its average volume of 120,154. The company's 50 day moving average price is $5.62 and its two-hundred day moving average price is $5.33. 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 firm has a market capitalization of $102.57 million, a price-to-earnings ratio of -5.36 and a beta of 0.89. Journey Medical has a one year low of $2.85 and a one year high of $8.11.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Nwam LLC bought a new position in Journey Medical in the third quarter valued at $59,000. TMD Wealth Management LLC acquired a new position in Journey Medical in the second quarter valued at about $65,000. Kovitz Investment Group Partners LLC bought a new position in Journey Medical in the 3rd quarter valued at about $66,000. ORG Wealth Partners LLC bought a new stake in Journey Medical during the third quarter worth $110,000. Finally, Geode Capital Management LLC raised its holdings in shares of Journey Medical by 13.5% during the 3rd quarter. Geode Capital Management LLC now owns 108,435 shares of the company's stock worth $613,000 after buying an additional 12,882 shares in the last quarter. 7.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on DERM shares. Rodman & Renshaw began coverage on Journey Medical in a research report on Thursday, August 22nd. They issued a "buy" rating and a $9.00 price objective on the stock. Lake Street Capital began coverage on Journey Medical in a research report on Friday, September 6th. They issued a "buy" rating and a $9.00 target price on the stock. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $9.38.

About Journey Medical

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.