Journey Medical Co. (NASDAQ:DERM) Short Interest Down 20.7% in October

Journey Medical Co. (NASDAQ:DERM) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 60,800 shares, a decrease of 20.7% from the October 15th total of 76,700 shares. Approximately 0.6% of the shares of the stock are short sold. Based on an average trading volume of 88,700 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Nwam LLC purchased a new position in shares of Journey Medical in the 3rd quarter worth about $59,000. TMD Wealth Management LLC purchased a new position in shares of Journey Medical during the second quarter valued at about $65,000. ORG Wealth Partners LLC purchased a new stake in shares of Journey Medical during the 3rd quarter worth approximately $110,000. Heron Bay Capital Management purchased a new position in shares of Journey Medical in the 1st quarter worth $124,000. Finally, Rosalind Advisors Inc. bought a new position in shares of Journey Medical during the 2nd quarter valued at approximately $644,000. 7.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DERM has been the subject of several analyst reports. Lake Street Capital began coverage on Journey Medical in a research report on Friday, September 6th. They set a “buy” rating and a $9.00 target price for the company. Rodman & Renshaw began 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 on the stock. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $9.38.

Journey Medical Stock Up 1.6 %

Shares of NASDAQ:DERM traded up $0.08 during midday trading on Friday, hitting $5.16. 64,240 shares of the company’s stock were exchanged, compared to its average volume of 120,919. Journey Medical has a 12 month low of $2.85 and a 12 month high of $8.11. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.38 and a quick ratio of 1.08. The stock has a 50 day moving average price of $5.60 and a 200-day moving average price of $5.04. The company has a market cap of $106.97 million, a PE ratio of -5.45 and a beta of 0.92.

Journey Medical (NASDAQ:DERM) last announced its earnings results on Monday, August 12th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). Journey Medical had a negative return on equity of 132.10% and a negative net margin of 31.74%. The business 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 company earned ($0.46) earnings per share. On average, sell-side analysts anticipate that Journey Medical will post -1.03 EPS for the current fiscal year.

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.