Journey Medical Co. (NASDAQ:DERM) Sees Large Increase in Short Interest

Journey Medical Co. (NASDAQ:DERM - Get Free Report) saw a large 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 company's shares are short sold. Based on an average daily volume of 55,400 shares, the days-to-cover ratio is currently 1.6 days.

Insider Activity

In other Journey Medical news, CFO Joseph Benesch sold 9,324 shares of the company's stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $5.47, for a total transaction of $51,002.28. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 19.42% of the company's stock.

Institutional Trading of Journey Medical

Several institutional investors have recently made changes to their positions in DERM. TMD Wealth Management LLC purchased a new position in Journey Medical during the second quarter worth about $65,000. Nwam LLC purchased a new position in shares of Journey Medical in the 1st quarter worth approximately $41,000. ORG Wealth Partners LLC bought a new position in shares of Journey Medical in the third quarter valued at approximately $110,000. Heron Bay Capital Management purchased a new stake in shares of Journey Medical during the first quarter valued at approximately $124,000. Finally, Rosalind Advisors Inc. bought a new stake in Journey Medical during the second quarter worth $644,000. Institutional investors own 7.25% of the company's stock.

Wall Street Analyst Weigh In

DERM has been the subject of several research analyst reports. Rodman & Renshaw initiated coverage on shares of Journey Medical in a research note on Thursday, August 22nd. They issued a "buy" rating and a $9.00 price target for the company. Lake Street Capital started coverage on Journey Medical in a research note on Friday, September 6th. They set a "buy" rating and a $9.00 price target on the stock. Roth Capital raised Journey Medical to a "strong-buy" rating in a research note on Friday, June 28th. Finally, Roth Mkm began coverage on Journey Medical in a report on Friday, June 28th. They set a "buy" rating and a $11.00 price objective for the company. 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 stock currently has an average rating of "Buy" and a consensus price target of $9.38.

Journey Medical Stock Down 1.4 %

DERM stock traded down $0.08 during mid-day trading on Tuesday, reaching $5.76. 112,462 shares of the company traded hands, compared to its average volume of 117,920. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 1.75. The firm's 50 day moving average price is $5.17 and its 200 day moving average price is $4.74. The stock has a market cap of $115.27 million, a price-to-earnings ratio of -18.84 and a beta of 0.92. Journey Medical has a fifty-two week low of $2.85 and a fifty-two week high of $8.11.

Journey Medical (NASDAQ:DERM - Get Free Report) last announced its earnings results on Monday, August 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The company had revenue of $14.86 million for the quarter, compared to analysts' expectations of $13.81 million. Journey Medical had a net margin of 1.09% and a return on equity of 5.44%. During the same period in the previous year, the firm earned ($0.46) EPS. As a group, equities research analysts predict that Journey Medical will post -1.04 EPS for the current fiscal year.

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.