FY2024 EPS Estimates for Journey Medical Boosted by Analyst

Journey Medical Co. (NASDAQ:DERM) – Stock analysts at Roth Capital boosted their FY2024 EPS estimates for Journey Medical in a research note issued on Monday, November 4th. Roth Capital analyst J. Wittes now anticipates that the company will post earnings per share of ($0.93) for the year, up from their previous forecast of ($0.96). The consensus estimate for Journey Medical’s current full-year earnings is ($1.04) per share. Roth Capital also issued estimates for Journey Medical’s Q4 2024 earnings at ($0.12) EPS.

A number of other research firms also recently issued reports on DERM. Lake Street Capital initiated coverage on shares of Journey Medical in a research note on Friday, September 6th. They set a “buy” rating and a $9.00 price objective on the stock. Rodman & Renshaw started coverage on shares of Journey Medical in a research report 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 company’s stock. Based on data from MarketBeat, Journey Medical presently has a consensus rating of “Buy” and an average price target of $9.38.

Journey Medical Trading Up 5.0 %

NASDAQ DERM opened at $5.71 on Thursday. The stock has a market cap of $118.37 million, a PE ratio of -285.50 and a beta of 0.92. The company’s 50-day moving average price is $5.55 and its 200-day moving average price is $4.97. Journey Medical has a 12 month low of $2.85 and a 12 month high of $8.11. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 1.75.

Journey Medical (NASDAQ:DERM) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). Journey Medical had a net margin of 1.09% and a return on equity of 5.44%. The company had revenue of $14.86 million for the quarter, compared to analysts’ expectations of $13.81 million. During the same quarter last year, the company earned ($0.46) earnings per share.

Institutional Trading of Journey Medical

A number of hedge funds have recently modified their holdings of DERM. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Journey Medical during the 2nd quarter worth approximately $1,664,000. Acadian Asset Management LLC lifted its stake in Journey Medical by 687.5% in the 1st quarter. Acadian Asset Management LLC now owns 222,663 shares of the company’s stock valued at $817,000 after buying an additional 194,389 shares in the last quarter. PVG Asset Management Corp purchased a new position in shares of Journey Medical in the second quarter valued at approximately $894,000. Rosalind Advisors Inc. acquired a new stake in shares of Journey Medical in the second quarter worth approximately $644,000. Finally, Heron Bay Capital Management purchased a new stake in shares of Journey Medical during the first quarter worth approximately $124,000. Hedge funds and other institutional investors own 7.25% of the company’s stock.

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.