Journey Medical (NASDAQ:DERM) Upgraded by Roth Capital to “Strong-Buy”

Roth Capital upgraded shares of Journey Medical (NASDAQ:DERM) to a strong-buy rating in a research report report published on Friday morning, Zacks.com reports.

Separately, Roth Mkm began coverage on Journey Medical in a report on Friday. They issued a buy rating and a $11.00 price target for the company.

Journey Medical Stock Performance

NASDAQ:DERM opened at $5.64 on Friday. Journey Medical has a one year low of $1.52 and a one year high of $8.11. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.94 and a current ratio of 1.21. The firm has a market capitalization of $112.86 million, a PE ratio of -18.19 and a beta of 0.79. The firm has a 50 day moving average of $4.20.

Journey Medical (NASDAQ:DERM) last posted 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. As a group, analysts predict that Journey Medical will post -1.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC grew its position in Journey Medical by 687.5% in the first quarter. Acadian Asset Management LLC now owns 222,663 shares of the company’s stock worth $817,000 after acquiring an additional 194,389 shares during the period. Heron Bay Capital Management purchased a new position in Journey Medical in the first quarter worth approximately $124,000. Finally, Nwam LLC purchased a new position in Journey Medical in the first quarter worth approximately $41,000. 7.25% of the stock is currently owned by hedge funds and other institutional investors.

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.