Titleist Asset Management LLC Cuts Holdings in Journey Medical Co. (NASDAQ:DERM)

Titleist Asset Management LLC trimmed its position in Journey Medical Co. (NASDAQ:DERM) by 23.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,900 shares of the company’s stock after selling 3,350 shares during the quarter. Titleist Asset Management LLC owned approximately 0.05% of Journey Medical worth $43,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. PVG Asset Management Corp boosted its stake in Journey Medical by 5.7% in the third quarter. PVG Asset Management Corp now owns 167,545 shares of the company’s stock valued at $947,000 after acquiring an additional 9,005 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new position in Journey Medical in the 3rd quarter valued at $66,000. Finally, Geode Capital Management LLC raised its holdings 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 purchasing an additional 12,882 shares in the last quarter. 7.25% of the stock is currently owned by institutional investors and hedge funds.

Journey Medical Stock Down 3.2 %

DERM opened at $6.96 on Tuesday. Journey Medical Co. has a 12 month low of $3.20 and a 12 month high of $7.29. 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 business has a 50-day moving average of $5.41 and a two-hundred day moving average of $5.23. The stock has a market capitalization of $160.80 million, a price-to-earnings ratio of -7.40 and a beta of 0.90.

Journey Medical (NASDAQ:DERM) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.30. The company had revenue of $14.30 million during the quarter, compared to analyst estimates of $14.21 million. Journey Medical had a negative return on equity of 132.10% and a negative net margin of 31.74%. On average, research analysts expect that Journey Medical Co. will post -1.02 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Claude Maraoui sold 18,147 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $5.13, for a total transaction of $93,094.11. Following the completion of the sale, the chief executive officer now directly owns 2,092,874 shares of the company’s stock, valued at approximately $10,736,443.62. This trade represents a 0.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 105,831 shares of company stock valued at $536,622. Company insiders own 13.16% of the company’s stock.

Analyst Upgrades and Downgrades

DERM has been the subject of several research analyst reports. Alliance Global Partners reissued a “buy” rating on shares of Journey Medical in a report on Thursday, March 27th. Industrial Alliance Securities set a $10.50 price target on Journey Medical in a report on Thursday, March 27th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $9.88.

Journey Medical 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.