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

Journey Medical Co. (NASDAQ:DERM) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 66,200 shares, a growth 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 volume of 91,200 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Investors Weigh In On Journey Medical

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

Journey Medical Stock Performance

NASDAQ DERM remained flat at $5.61 on Wednesday. 39,686 shares of the company traded hands, compared to its average volume of 119,271. Journey Medical has a fifty-two week low of $2.85 and a fifty-two week high of $8.11. The stock has a market capitalization of $117.19 million, a P/E ratio of -5.97 and a beta of 0.89. The stock’s 50 day moving average is $5.72 and its two-hundred day moving average is $5.23. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.38.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on DERM shares. Lake Street Capital began coverage on Journey Medical in a research note on Friday, September 6th. They set a “buy” rating and a $9.00 target price on the stock. Rodman & Renshaw initiated coverage on Journey Medical in a research report on Thursday, August 22nd. They set a “buy” rating and a $9.00 price target on the stock. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $9.38.

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.