Journey Medical Co. (NASDAQ:DERM) Short Interest Update

Journey Medical Co. (NASDAQ:DERM - Get Free Report) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 150,100 shares, an increase of 28.0% from the March 15th total of 117,300 shares. Currently, 1.5% of the company's shares are sold short. Based on an average daily volume of 67,900 shares, the short-interest ratio is presently 2.2 days.

Insiders Place Their Bets

In other news, CEO Claude Maraoui sold 14,905 shares of Journey Medical stock in a transaction on Friday, March 7th. The stock was sold at an average price of $5.01, for a total transaction of $74,674.05. Following the completion of the sale, the chief executive officer now directly owns 2,052,418 shares in the company, valued at approximately $10,282,614.18. This trade represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 105,831 shares of company stock valued at $536,622 over the last 90 days. Insiders own 13.16% of the company's stock.

Institutional Trading of Journey Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its stake in shares of Journey Medical by 21.8% in the fourth quarter. Cetera Investment Advisers now owns 13,839 shares of the company's stock worth $54,000 after purchasing an additional 2,478 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in Journey Medical in the 4th quarter worth approximately $80,000. Kovitz Investment Group Partners LLC raised its position in Journey Medical by 112.9% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 24,710 shares of the company's stock worth $97,000 after buying an additional 13,105 shares during the last quarter. Citadel Advisors LLC acquired a new stake in Journey Medical during the 4th quarter valued at approximately $174,000. Finally, Geode Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 12,882 shares during the last quarter. Institutional investors and hedge funds own 7.25% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Industrial Alliance Securities set a $10.50 price objective on shares of Journey Medical in a research note on Thursday, March 27th. Alliance Global Partners reiterated a "buy" rating on shares of Journey Medical in a research note on Thursday, March 27th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $9.88.

Journey Medical Stock Down 2.3 %

Shares of DERM traded down $0.18 during mid-day trading on Thursday, hitting $7.31. 22,506 shares of the company traded hands, compared to its average volume of 80,757. The company has a market capitalization of $168.77 million, a PE ratio of -7.77 and a beta of 0.90. The company has a quick ratio of 1.03, a current ratio of 1.38 and a debt-to-equity ratio of 1.81. The business has a 50 day moving average of $5.84 and a 200 day moving average of $5.31. Journey Medical has a 1-year low of $3.20 and a 1-year high of $7.84.

Journey Medical (NASDAQ:DERM - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.22) by $0.30. The business had revenue of $14.30 million during the quarter, compared to analysts' expectations of $14.21 million. Journey Medical had a negative net margin of 31.74% and a negative return on equity of 132.10%. Equities research analysts anticipate that Journey Medical will post -1.02 EPS for the current 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.