Journey Medical Co. (NASDAQ:DERM) Shares Sold by Atria Investments Inc

Atria Investments Inc lowered its position in Journey Medical Co. (NASDAQ:DERM) by 19.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,397 shares of the company’s stock after selling 10,940 shares during the quarter. Atria Investments Inc owned 0.21% of Journey Medical worth $251,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC acquired a new position in shares of Journey Medical in the 3rd quarter valued at about $110,000. PVG Asset Management Corp purchased a new stake in Journey Medical during the second quarter worth approximately $894,000. TMD Wealth Management LLC acquired a new stake in shares of Journey Medical in the second quarter worth $65,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Journey Medical in the 2nd quarter valued at $1,664,000. Finally, Rosalind Advisors Inc. acquired a new position in shares of Journey Medical during the 2nd quarter valued at $644,000. Hedge funds and other institutional investors own 7.25% of the company’s stock.

Journey Medical Stock Performance

NASDAQ:DERM opened at $5.37 on Friday. The firm has a 50-day moving average of $5.65 and a two-hundred day moving average of $5.10. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.38 and a quick ratio of 1.03. The stock has a market cap of $112.18 million, a P/E ratio of -5.71 and a beta of 0.92. Journey Medical Co. has a 1-year low of $2.85 and a 1-year high of $8.11.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DERM. Rodman & Renshaw assumed coverage on Journey Medical in a report on Thursday, August 22nd. They issued a “buy” rating and a $9.00 price target for the company. Lake Street Capital assumed coverage on Journey Medical in a report on Friday, September 6th. They set a “buy” rating and a $9.00 target price on the stock. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $9.38.

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.