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

Journey Medical Co. (NASDAQ:DERM) was the target of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 66,200 shares, an increase of 8.9% from the October 31st total of 60,800 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average daily trading volume, of 91,200 shares, the short-interest ratio is presently 0.7 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Lake Street Capital assumed coverage on shares of Journey Medical in a report on Friday, September 6th. They issued a “buy” rating and a $9.00 price objective on the stock. Rodman & Renshaw began coverage on Journey Medical in a research note on Thursday, August 22nd. They issued a “buy” rating and a $9.00 price objective for the company. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $9.38.

Institutional Trading of Journey Medical

Several institutional investors and hedge funds have recently modified their holdings of DERM. PVG Asset Management Corp purchased a new position in Journey Medical during the 2nd quarter valued at about $894,000. Cambridge Investment Research Advisors Inc. purchased a new position in Journey Medical during the second quarter valued at approximately $1,664,000. TMD Wealth Management LLC bought a new position in Journey Medical in the second quarter worth approximately $65,000. Nwam LLC purchased a new stake in Journey Medical during the third quarter worth $59,000. Finally, ORG Wealth Partners LLC bought a new stake in Journey Medical during the 3rd quarter valued at $110,000. Institutional investors own 7.25% of the company’s stock.

Journey Medical Stock Down 3.9 %

NASDAQ DERM opened at $5.61 on Wednesday. Journey Medical has a 52 week low of $2.85 and a 52 week high of $8.11. The firm has a market capitalization of $117.19 million, a price-to-earnings ratio of -5.97 and a beta of 0.89. 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 company has a fifty day moving average of $5.72 and a two-hundred day moving average of $5.23.

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.