Nwam LLC Invests $59,000 in Journey Medical Co. (NASDAQ:DERM)

Nwam LLC acquired a new stake in shares of Journey Medical Co. (NASDAQ:DERM) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,430 shares of the company’s stock, valued at approximately $59,000. Nwam LLC owned 0.05% of Journey Medical at the end of the most recent reporting period.

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

Journey Medical Price Performance

NASDAQ:DERM opened at $5.55 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.38 and a debt-to-equity ratio of 1.81. The business’s 50-day moving average price is $5.66 and its 200 day moving average price is $5.16. Journey Medical Co. has a 52-week low of $2.85 and a 52-week high of $8.11. The firm has a market cap of $115.94 million, a P/E ratio of -5.90 and a beta of 0.92.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DERM shares. Lake Street Capital assumed coverage on shares of Journey Medical in a research report on Friday, September 6th. They issued a “buy” rating and a $9.00 target price for the company. Rodman & Renshaw assumed 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 research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price 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.