Journey Medical Co. (NASDAQ:DERM) Short Interest Up 8.9% in November

Journey Medical Co. (NASDAQ:DERM) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 66,200 shares, an increase of 8.9% from the October 31st total of 60,800 shares. Based on an average daily volume of 91,200 shares, the short-interest ratio is currently 0.7 days. Currently, 0.7% of the company’s stock are sold short.

Journey Medical Price Performance

Shares of Journey Medical stock opened at $5.61 on Wednesday. The business has a 50 day simple moving average of $5.72 and a two-hundred day simple moving average of $5.23. Journey Medical has a 12 month low of $2.85 and a 12 month high of $8.11. 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 stock has a market capitalization of $117.19 million, a P/E ratio of -5.97 and a beta of 0.89.

Institutional Investors Weigh In On Journey Medical

A number of large investors have recently modified their holdings of the business. Nwam LLC purchased a new position in shares of Journey Medical in the third quarter worth about $59,000. TMD Wealth Management LLC purchased a new stake in shares of Journey Medical in the second quarter valued at approximately $65,000. Kovitz Investment Group Partners LLC acquired a new stake in shares of Journey Medical in the third quarter valued at approximately $66,000. ORG Wealth Partners LLC purchased a new position in Journey Medical during the third quarter worth approximately $110,000. Finally, Geode Capital Management LLC boosted its stake in Journey Medical by 13.5% during the third quarter. Geode Capital Management LLC now owns 108,435 shares of the company’s stock worth $613,000 after buying an additional 12,882 shares during the last quarter. Hedge funds and other institutional investors own 7.25% of the company’s stock.

Analyst Upgrades and Downgrades

DERM has been the subject of several research analyst reports. Rodman & Renshaw initiated coverage on shares of Journey Medical in a research report on Thursday, August 22nd. They issued a “buy” rating and a $9.00 price objective for the company. Lake Street Capital started coverage on shares of Journey Medical in a report on Friday, September 6th. They issued a “buy” rating and a $9.00 price target for the company. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Journey Medical currently has an average rating of “Buy” and an average price target of $9.38.

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.