Short Interest in Journey Medical Co. (NASDAQ:DERM) Rises By 28.0%

Journey Medical Co. (NASDAQ:DERM) was the target of a large 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. Based on an average daily trading volume, of 67,900 shares, the days-to-cover ratio is currently 2.2 days. Approximately 1.5% of the company’s shares are sold short.

Analyst Ratings Changes

Several research analysts have commented on the company. Alliance Global Partners reaffirmed a “buy” rating on shares of Journey Medical in a report on Thursday, March 27th. Industrial Alliance Securities set a $10.50 price objective on Journey Medical in a research note on Thursday, March 27th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $9.88.

Journey Medical Trading Up 0.6 %

Journey Medical stock traded up $0.04 during trading hours on Friday, reaching $6.25. 53,673 shares of the company’s stock were exchanged, compared to its average volume of 80,171. The firm has a market capitalization of $144.40 million, a PE ratio of -6.65 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 firm’s 50 day simple moving average is $5.73 and its 200 day simple moving average is $5.28. Journey Medical has a twelve month low of $3.20 and a twelve month high of $7.29.

Journey Medical (NASDAQ:DERM) last issued its quarterly earnings results on Wednesday, March 26th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.30. The firm had revenue of $14.30 million for the quarter, compared to analyst estimates of $14.21 million. Journey Medical had a negative return on equity of 132.10% and a negative net margin of 31.74%. Research analysts predict that Journey Medical will post -1.02 earnings per share for the current year.

Insider Activity at Journey Medical

In other news, CEO Claude Maraoui sold 18,147 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $5.13, for a total transaction of $93,094.11. Following the completion of the transaction, the chief executive officer now owns 2,092,874 shares of the company’s stock, valued at approximately $10,736,443.62. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 105,831 shares of company stock worth $536,622 in the last quarter. 13.16% of the stock is owned by insiders.

Hedge Funds Weigh In On Journey Medical

Several institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers grew its stake in shares of Journey Medical by 21.8% in the 4th quarter. Cetera Investment Advisers now owns 13,839 shares of the company’s stock valued at $54,000 after buying an additional 2,478 shares during the period. Dimensional Fund Advisors LP acquired a new stake in Journey Medical in the fourth quarter valued at approximately $80,000. Kovitz Investment Group Partners LLC increased its holdings in shares of Journey Medical by 112.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 24,710 shares of the company’s stock valued at $97,000 after acquiring an additional 13,105 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of Journey Medical during the fourth quarter worth approximately $174,000. Finally, Geode Capital Management LLC lifted 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 worth $613,000 after purchasing an additional 12,882 shares in the last quarter. Institutional investors and hedge funds own 7.25% of the company’s stock.

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.