Insider Buying: Journey Medical Co. (NASDAQ:DERM) CEO Purchases $34,800.00 in Stock

Journey Medical Co. (NASDAQ:DERM) CEO Claude Maraoui purchased 10,000 shares of Journey Medical stock in a transaction that occurred on Friday, March 22nd. The stock was purchased at an average cost of $3.48 per share, for a total transaction of $34,800.00. Following the completion of the purchase, the chief executive officer now owns 2,163,430 shares of the company’s stock, valued at $7,528,736.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Journey Medical Stock Performance

NASDAQ DERM opened at $3.89 on Thursday. Journey Medical Co. has a 12 month low of $1.02 and a 12 month high of $8.11. The firm has a market capitalization of $72.00 million, a PE ratio of -11.11 and a beta of 0.83.

Institutional Investors Weigh In On Journey Medical

A number of institutional investors have recently modified their holdings of DERM. Citadel Advisors LLC purchased a new stake in shares of Journey Medical during the fourth quarter valued at $65,000. Northern Trust Corp purchased a new stake in shares of Journey Medical during the fourth quarter valued at $96,000. Virtu Financial LLC purchased a new stake in shares of Journey Medical during the fourth quarter valued at $153,000. Finally, Vanguard Group Inc. boosted its position in shares of Journey Medical by 78.1% during the fourth quarter. Vanguard Group Inc. now owns 129,448 shares of the company’s stock valued at $746,000 after buying an additional 56,781 shares during the last quarter. 7.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Alliance Global Partners assumed coverage on Journey Medical in a research note on Friday, February 16th. They issued a “buy” rating and a $8.50 target price on the stock.

Journey Medical Company 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 acne; Targadox, an oral doxycycline drug for adjunctive therapy for severe acne; Zilxi, a topical minocycline treatment for inflammatory lesions; Ximino, an oral minocycline drug for the treatment of moderate to severe acne; and Exelderm cream and solution for topical use.