1 day Ago By ABMN Staff
Acadian Asset Management LLC reduced its stake in shares of Journey Medical Co. ( NASDAQ:DERM – Free Report ) by 57.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission.
The institutional investor owned 94,404 shares of the company’s stock after selling 128,259 shares during the quarter. Acadian Asset Management LLC owned 0.47% of Journey Medical worth $531,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of DERM. Nwam LLC acquired a new position in shares of Journey Medical in the 1st quarter valued at $41,000. Heron Bay Capital Management purchased a new stake in Journey Medical in the 1st quarter worth $124,000.
Rosalind Advisors Inc. acquired a new position in Journey Medical during the second quarter worth $644,000. Finally, Cambridge Investment Research Advisors Inc.
acquired a new position in shares of Journey Medical during the 2nd quarter worth about $1,664,000. Hedge funds and other institutional investors own 7.25% of the company’s stock.
Journey Medical Stock Performance Shares of Journey Medical stock opened at $5.12 on Thursday. The business’s 50 day moving average price is $5.
08 and its 200 day moving average price is $4.45. The company has a market cap of $102.
47 million, a price-to-earnings ratio of -16.52 and a beta of 0.91.
The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.08 and a current ratio of 1.
36. Journey Medical Co. has a one year low of $2.
48 and a one year high of $8.11. Analyst Upgrades and Downgrades DERM has been the subject of a number of research analyst reports.
Roth Mkm began coverage on Journey Medical in a report on Friday, June 28th. They set a “buy” rating and a $11.00 target price for the company.
Rodman & Renshaw began coverage on Journey Medical in a research note on Thursday, August 22nd. They issued a “buy” rating and a $9.00 price objective for the company.
Lake Street Capital initiated coverage on shares of Journey Medical in a research note on Friday, September 6th. They set a “buy” rating and a $9.00 target price on the stock.
Finally, Roth Capital upgraded shares of Journey Medical to a “strong-buy” rating in a research report on Friday, June 28th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $9.
38. Check Out Our Latest Stock Report on Journey Medical Insider Activity In other Journey Medical news, CFO Joseph Benesch sold 9,324 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $5.
47, for a total transaction of $51,002.28. Following the completion of the sale, the chief financial officer now owns 47,331 shares of the company’s stock, valued at $258,900.
57. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink . Corporate insiders own 19.
42% of the company’s stock. Journey Medical Company Profile ( Free Report ) 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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