Journey Medical Co. (NASDAQ:DERM) Sees Large Increase in Short Interest

Journey Medical Co. (NASDAQ:DERM) was the recipient of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 76,700 shares, a growth of 15.9% from the November 15th total of 66,200 shares. Based on an average daily volume of 105,000 shares, the short-interest ratio is currently 0.7 days. Approximately 0.8% of the shares of the company are sold short.

Journey Medical Trading Down 1.0 %

Shares of DERM traded down $0.05 during trading hours on Monday, reaching $5.04. 31,113 shares of the company traded hands, compared to its average volume of 120,124. Journey Medical has a 12-month low of $2.85 and a 12-month high of $8.11. The stock’s fifty day moving average price is $5.62 and its 200 day moving average price is $5.33. The firm has a market cap of $105.29 million, a price-to-earnings ratio of -5.41 and a beta of 0.89. The company has a current ratio of 1.38, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81.

Analysts Set New Price Targets

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

Institutional Trading of Journey Medical

Large investors have recently modified their holdings of the company. PVG Asset Management Corp purchased a new position in shares of Journey Medical during the second quarter valued at $894,000. Cambridge Investment Research Advisors Inc. bought a new position in Journey Medical during the 2nd quarter worth about $1,664,000. Nwam LLC purchased a new position in Journey Medical during the 3rd quarter valued at about $59,000. TMD Wealth Management LLC bought a new stake in shares of Journey Medical in the 2nd quarter valued at about $65,000. Finally, Kovitz Investment Group Partners LLC purchased a new stake in shares of Journey Medical in the 3rd quarter worth approximately $66,000. Hedge funds and other institutional investors own 7.25% of the company’s stock.

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.