TMD Wealth Management LLC Invests $65,000 in Journey Medical Co. (NASDAQ:DERM)

TMD Wealth Management LLC acquired a new stake in Journey Medical Co. (NASDAQ:DERM) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 11,605 shares of the company’s stock, valued at approximately $65,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. acquired a new position in Journey Medical in the second quarter valued at approximately $1,664,000. Acadian Asset Management LLC increased its stake in shares of Journey Medical by 687.5% in the 1st quarter. Acadian Asset Management LLC now owns 222,663 shares of the company’s stock valued at $817,000 after acquiring an additional 194,389 shares in the last quarter. Rosalind Advisors Inc. acquired a new position in shares of Journey Medical during the 2nd quarter valued at $644,000. Heron Bay Capital Management bought a new position in Journey Medical during the first quarter worth $124,000. Finally, Nwam LLC acquired a new stake in Journey Medical in the first quarter worth $41,000. Institutional investors own 7.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on DERM shares. Roth Capital upgraded shares of Journey Medical to a “strong-buy” rating in a report on Friday, June 28th. Rodman & Renshaw began coverage on Journey Medical in a report on Thursday, August 22nd. They issued a “buy” rating and a $9.00 price target on the stock. Roth Mkm initiated coverage on Journey Medical in a report on Friday, June 28th. They set a “buy” rating and a $11.00 price objective for the company. Finally, Lake Street Capital began coverage on Journey Medical in a report on Friday, September 6th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $9.38.

Insiders Place Their Bets

In related news, CFO Joseph Benesch sold 9,324 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $5.47, for a total transaction of $51,002.28. Following the transaction, the chief financial officer now directly owns 47,331 shares of the company’s stock, valued at $258,900.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 19.42% of the company’s stock.

Journey Medical Price Performance

DERM stock opened at $5.16 on Friday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.08 and a current ratio of 1.36. The business has a 50-day simple moving average of $5.11 and a two-hundred day simple moving average of $4.42. The company has a market capitalization of $106.97 million, a P/E ratio of -16.65 and a beta of 0.90. Journey Medical Co. has a 52-week low of $2.33 and a 52-week high of $8.11.

Journey Medical (NASDAQ:DERM) last announced its earnings results on Monday, August 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The company had revenue of $14.86 million for the quarter, compared to analysts’ expectations of $13.81 million. Journey Medical had a net margin of 1.09% and a return on equity of 5.44%. During the same period in the previous year, the firm earned ($0.46) EPS. Research analysts expect that Journey Medical Co. will post -1.04 EPS for the current fiscal year.

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.