Journey Medical (NASDAQ:DERM) Research Coverage Started at Roth Mkm

Analysts at Roth Mkm assumed coverage on shares of Journey Medical (NASDAQ:DERM) in a research note issued on Friday, StockNewsAPI reports. The firm set a “buy” rating and a $11.00 price target on the stock. Roth Mkm’s price objective points to a potential upside of 114.01% from the stock’s current price.

Journey Medical Price Performance

NASDAQ DERM opened at $5.14 on Friday. The company has a market capitalization of $102.85 million, a P/E ratio of -16.58 and a beta of 0.79. Journey Medical has a 52 week low of $1.52 and a 52 week high of $8.11. The firm’s 50 day moving average price is $4.16. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.94 and a current ratio of 1.21.

Journey Medical (NASDAQ:DERM) last announced its earnings results on Monday, May 13th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.27). The company had revenue of $13.03 million for the quarter, compared to analysts’ expectations of $14.91 million. Journey Medical had a negative net margin of 5.20% and a negative return on equity of 32.83%. On average, equities research analysts anticipate that Journey Medical will post -1.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DERM. Nwam LLC purchased a new position in Journey Medical in the first quarter worth $41,000. Acadian Asset Management LLC boosted its position in Journey Medical by 687.5% in the first quarter. Acadian Asset Management LLC now owns 222,663 shares of the company’s stock worth $817,000 after purchasing an additional 194,389 shares during the last quarter. Finally, Heron Bay Capital Management purchased a new position in Journey Medical in the first quarter worth $124,000. Hedge funds and other institutional investors own 7.25% of the company’s stock.

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.