FY2024 EPS Estimates for Journey Medical Raised by B. Riley

Journey Medical Co. (NASDAQ:DERM) – Stock analysts at B. Riley upped their FY2024 earnings per share (EPS) estimates for shares of Journey Medical in a research report issued to clients and investors on Monday, November 18th. B. Riley analyst K. Patel now forecasts that the company will post earnings per share of ($1.04) 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.

Several other brokerages have also weighed in on DERM. Lake Street Capital began coverage on shares of Journey Medical in a research report 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 note on Thursday, August 22nd. They issued a “buy” rating and a $9.00 target price on the stock. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $9.38.

Journey Medical Price Performance

NASDAQ DERM opened at $5.35 on Wednesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.38 and a quick ratio of 1.03. The firm has a market capitalization of $110.91 million, a price-to-earnings ratio of -5.84 and a beta of 0.92. The company has a 50 day simple moving average of $5.62 and a 200-day simple moving average of $5.08. Journey Medical has a 52-week low of $2.85 and a 52-week high of $8.11.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in Journey Medical by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 108,435 shares of the company’s stock valued at $613,000 after acquiring an additional 12,882 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new position in shares of Journey Medical in the third quarter valued at $66,000. Nwam LLC acquired a new position in shares of Journey Medical in the third quarter valued at $59,000. ORG Wealth Partners LLC bought a new position in Journey Medical in the third quarter worth $110,000. Finally, PVG Asset Management Corp acquired a new stake in Journey Medical during the second quarter worth $894,000. 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.