PVG Asset Management Corp Purchases New Stake in Journey Medical Co. (NASDAQ:DERM)

PVG Asset Management Corp bought a new stake in Journey Medical Co. (NASDAQ:DERM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 158,540 shares of the company's stock, valued at approximately $894,000. Journey Medical makes up 3.5% of PVG Asset Management Corp's portfolio, making the stock its 10th largest holding. PVG Asset Management Corp owned about 0.79% of Journey Medical as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Journey Medical during the 2nd quarter worth approximately $1,664,000. Acadian Asset Management LLC increased its holdings in shares of Journey Medical by 687.5% during the 1st quarter. Acadian Asset Management LLC now owns 222,663 shares of the company's stock worth $817,000 after acquiring an additional 194,389 shares during the last quarter. Rosalind Advisors Inc. acquired a new position in shares of Journey Medical during the 2nd quarter worth approximately $644,000. Heron Bay Capital Management acquired a new position in shares of Journey Medical during the 1st quarter worth approximately $124,000. Finally, Nwam LLC acquired a new position in shares of Journey Medical during the 1st quarter worth approximately $41,000. Institutional investors own 7.25% of the company's stock.

Journey Medical Trading Up 2.8 %

Journey Medical stock traded up $0.16 during trading hours on Tuesday, hitting $5.81. The stock had a trading volume of 144,913 shares, compared to its average volume of 120,321. 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 stock has a market cap of $116.28 million, a price-to-earnings ratio of -18.74 and a beta of 0.90. Journey Medical Co. has a one year low of $2.55 and a one year high of $8.11. The business's 50 day simple moving average is $5.03 and its 200-day simple moving average is $4.56.

Journey Medical (NASDAQ:DERM - Get Free Report) last posted its earnings results on Monday, August 12th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.03). Journey Medical had a net margin of 1.09% and a return on equity of 5.44%. The firm 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 business posted ($0.46) earnings per share. On average, equities analysts predict that Journey Medical Co. will post -1.04 EPS for the current fiscal year.

Insider Transactions at Journey Medical

In other news, CFO Joseph Benesch sold 9,324 shares of the firm's stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $5.47, for a total transaction of $51,002.28. Following the completion of the transaction, the chief financial officer now directly owns 47,331 shares in the company, valued at $258,900.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 19.42% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on DERM. Roth Capital raised Journey Medical to a "strong-buy" rating in a report on Friday, June 28th. Roth Mkm began coverage on Journey Medical in a report on Friday, June 28th. They set a "buy" rating and a $11.00 target price on the stock. Rodman & Renshaw began coverage on Journey Medical in a report on Thursday, August 22nd. They set a "buy" rating and a $9.00 target price on the stock. Finally, Lake Street Capital began coverage on Journey Medical in a report on Friday, September 6th. They set 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $9.38.

Journey Medical 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.