Journey Medical Co. (NASDAQ:DERM – Get Free Report) was the target of a significant growth in short interest during 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 presently 0.7 days. Currently, 0.8% of the company’s stock are sold short.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented 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 target on the stock. Rodman & Renshaw began coverage on Journey Medical in a report on Thursday, August 22nd. They set a “buy” rating and a $9.00 price target on the stock. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $9.38.
Get Our Latest Stock Analysis on DERM
Journey Medical Price Performance
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Nwam LLC acquired a new position in Journey Medical in the third quarter worth approximately $59,000. TMD Wealth Management LLC acquired a new position in Journey Medical in the second quarter worth approximately $65,000. Kovitz Investment Group Partners LLC acquired a new position in Journey Medical in the third quarter worth approximately $66,000. ORG Wealth Partners LLC acquired a new position in Journey Medical in the third quarter worth approximately $110,000. Finally, Geode Capital Management LLC grew its position in Journey Medical by 13.5% during the 3rd 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 in the last quarter. Institutional investors and hedge funds 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.
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