Kovitz Investment Group Partners LLC Sells 3,000 Shares of Journey Medical Corporation $DERM

Kovitz Investment Group Partners LLC trimmed its holdings in shares of Journey Medical Corporation (NASDAQ:DERM) by 12.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 21,710 shares of the company’s stock after selling 3,000 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Journey Medical were worth $128,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DERM. Cetera Investment Advisers increased its stake in Journey Medical by 21.8% during the fourth quarter. Cetera Investment Advisers now owns 13,839 shares of the company’s stock worth $54,000 after acquiring an additional 2,478 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Journey Medical in the 4th quarter worth approximately $80,000. Citadel Advisors LLC bought a new position in shares of Journey Medical during the 4th quarter valued at approximately $174,000. Cambridge Investment Research Advisors Inc. raised its holdings in Journey Medical by 3.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 338,050 shares of the company’s stock valued at $1,994,000 after buying an additional 9,938 shares during the period. Finally, Tang Capital Management LLC bought a new stake in Journey Medical in the fourth quarter worth $6,747,000. Hedge funds and other institutional investors own 7.25% of the company’s stock.

Journey Medical Stock Performance

Shares of NASDAQ:DERM opened at $7.47 on Friday. The firm’s 50 day simple moving average is $7.16 and its 200-day simple moving average is $6.59. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.95 and a current ratio of 1.27. Journey Medical Corporation has a one year low of $3.54 and a one year high of $8.90. The firm has a market cap of $174.05 million, a PE ratio of -19.66 and a beta of 0.80.

Journey Medical (NASDAQ:DERM) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The firm had revenue of $15.01 million during the quarter, compared to the consensus estimate of $14.93 million. Journey Medical had a negative return on equity of 48.69% and a negative net margin of 15.49%. As a group, equities analysts predict that Journey Medical Corporation will post -1.02 EPS for the current year.

Wall Street Analyst Weigh In

DERM has been the subject of several recent analyst reports. Lake Street Capital lifted their price objective on shares of Journey Medical from $9.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. Wall Street Zen cut shares of Journey Medical from a “buy” rating to a “hold” rating in a research note on Sunday, July 6th. Alliance Global Partners reissued a “buy” rating on shares of Journey Medical in a research report on Thursday, May 15th. Finally, Zacks Research lowered Journey Medical from a “hold” rating to a “strong sell” rating in a research report on Friday, August 15th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Journey Medical currently has an average rating of “Hold” and a consensus price target of $11.75.

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.