Nwam LLC Invests $59,000 in Journey Medical Co. (NASDAQ:DERM)

Nwam LLC bought a new position in shares of Journey Medical Co. (NASDAQ:DERM) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,430 shares of the company’s stock, valued at approximately $59,000.

Several other hedge funds have also modified their holdings of the stock. TMD Wealth Management LLC purchased a new position in Journey Medical in the 2nd quarter worth about $65,000. ORG Wealth Partners LLC acquired a new position in shares of Journey Medical in the third quarter worth about $110,000. Rosalind Advisors Inc. purchased a new position in shares of Journey Medical in the second quarter worth approximately $644,000. PVG Asset Management Corp acquired a new stake in shares of Journey Medical during the second quarter valued at approximately $894,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Journey Medical in the 2nd quarter valued at approximately $1,664,000. 7.25% of the stock is owned by hedge funds and other institutional investors.

Journey Medical Stock Down 3.3 %

DERM stock opened at $5.55 on Wednesday. The company has a 50 day moving average of $5.66 and a two-hundred day moving average of $5.16. The company has a market cap of $115.94 million, a price-to-earnings ratio of -5.90 and a beta of 0.92. Journey Medical Co. has a 12-month low of $2.85 and a 12-month high of $8.11. The company has a quick ratio of 1.03, a current ratio of 1.38 and a debt-to-equity ratio of 1.81.

Analyst Ratings Changes

Several brokerages have issued reports on DERM. Rodman & Renshaw began coverage on shares of Journey Medical in a research note on Thursday, August 22nd. They set a “buy” rating and a $9.00 target price on the stock. Lake Street Capital assumed coverage on Journey Medical in a research report on Friday, September 6th. They set a “buy” rating and a $9.00 price target on the stock. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $9.38.

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.