FY2024 EPS Estimates for Journey Medical Lifted by Analyst

Journey Medical Co. (NASDAQ:DERM) – Analysts at B. Riley boosted their FY2024 EPS estimates for Journey Medical in a note issued to investors on Monday, November 18th. B. Riley analyst K. Patel now anticipates that the company will earn ($1.04) per share for the year, up from their prior estimate of ($1.13). The consensus estimate for Journey Medical’s current full-year earnings is ($1.03) per share. B. Riley also issued estimates for Journey Medical’s FY2025 earnings at ($0.61) EPS, FY2026 earnings at ($0.05) EPS, FY2027 earnings at $0.39 EPS and FY2028 earnings at $0.93 EPS.

DERM has been the subject of a number of other reports. Lake Street Capital started coverage on shares of Journey Medical in a report on Friday, September 6th. They issued a “buy” rating and a $9.00 price objective for the company. Rodman & Renshaw started coverage on shares of Journey Medical in a 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 assigned 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 target price of $9.38.

Journey Medical Price Performance

DERM stock opened at $5.23 on Wednesday. The firm has a 50 day moving average price of $5.63 and a 200-day moving average price of $5.09. Journey Medical has a 52-week low of $2.85 and a 52-week high of $8.11. The firm has a market capitalization of $108.42 million, a price-to-earnings ratio of -5.69 and a beta of 0.92. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.38.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. acquired a new position in Journey Medical during the second quarter worth about $1,664,000. Acadian Asset Management LLC raised its stake in 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 during the period. PVG Asset Management Corp purchased a new position in Journey Medical during the second quarter worth about $894,000. Rosalind Advisors Inc. purchased a new position in Journey Medical during the second quarter worth about $644,000. Finally, Geode Capital Management LLC raised its stake in Journey Medical by 13.5% during the third quarter. Geode Capital Management LLC now owns 108,435 shares of the company’s stock worth $613,000 after purchasing an additional 12,882 shares during the period. 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.