Journey Medical Co. (NASDAQ:DERM) Sees Large Decrease in Short Interest

Journey Medical Co. (NASDAQ:DERM) saw a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 325,600 shares, a drop of 7.8% from the June 30th total of 353,200 shares. Based on an average trading volume of 83,000 shares, the short-interest ratio is currently 3.9 days. Approximately 3.5% of the shares of the company are sold short.

Analyst Ratings Changes

DERM has been the subject of a number of research reports. Roth Capital upgraded shares of Journey Medical to a “strong-buy” rating in a research report on Friday, June 28th. Roth Mkm initiated coverage on shares of Journey Medical in a report on Friday, June 28th. They set a “buy” rating and a $11.00 price target for the company.

Journey Medical Stock Performance

Journey Medical stock traded down $0.02 during trading on Thursday, reaching $5.53. The company had a trading volume of 45,820 shares, compared to its average volume of 138,983. Journey Medical has a 12-month low of $1.78 and a 12-month high of $8.11. The business’s 50 day moving average price is $5.11. The stock has a market capitalization of $110.66 million, a price-to-earnings ratio of -17.84 and a beta of 0.93. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 1.13.

Journey Medical (NASDAQ:DERM) last released its earnings results on Monday, May 13th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.27). Journey Medical had a negative net margin of 5.20% and a negative return on equity of 32.83%. The company had revenue of $13.03 million during the quarter, compared to analysts’ expectations of $14.91 million. As a group, research analysts expect that Journey Medical will post -0.95 earnings per share for the current year.

Insider Transactions at Journey Medical

In related news, CFO Joseph Benesch sold 9,324 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $5.47, for a total value of $51,002.28. Following the completion of the sale, the chief financial officer now owns 47,331 shares in the company, valued at $258,900.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 19.42% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC lifted its position in shares of Journey Medical by 687.5% during 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 in the last quarter. Nwam LLC acquired a new position in shares of Journey Medical during the first quarter worth $41,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Journey Medical during the second quarter worth $1,664,000. Rosalind Advisors Inc. acquired a new position in shares of Journey Medical during the second quarter worth $644,000. Finally, Heron Bay Capital Management acquired a new position in shares of Journey Medical during the first quarter worth $124,000. 7.25% of the stock is owned by institutional investors and hedge funds.

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.