Roth Capital Upgrades Journey Medical (NASDAQ:DERM) to Strong-Buy

Journey Medical (NASDAQ:DERM) was upgraded by equities research analysts at Roth Capital to a “strong-buy” rating in a report released on Friday, Zacks.com reports.

Separately, Roth Mkm initiated coverage on shares of Journey Medical in a report on Friday. They set a “buy” rating and a $11.00 price target for the company.

Journey Medical Trading Up 9.7 %

NASDAQ DERM opened at $5.64 on Friday. Journey Medical has a 1-year low of $1.52 and a 1-year high of $8.11. The firm has a market capitalization of $112.86 million, a P/E ratio of -18.19 and a beta of 0.79. The firm’s 50 day moving average is $4.20. 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 announced its quarterly earnings results on Monday, May 13th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $14.91 million. On average, analysts predict that Journey Medical will post -1.02 earnings per share for the current year.

Hedge Funds Weigh In On Journey Medical

Institutional investors and hedge funds have recently bought and sold shares of the business. Heron Bay Capital Management bought a new position in shares of Journey Medical in the first quarter valued at about $124,000. 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. Finally, Nwam LLC bought a new stake in shares of Journey Medical during the first quarter valued at approximately $41,000. 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.