Journey Medical Co. (NASDAQ:DERM) Director Buys $104,100.00 in Stock

Journey Medical Co. (NASDAQ:DERM) Director Justin Adam Smith purchased 30,000 shares of the stock in a transaction on Friday, March 22nd. The stock was acquired at an average price of $3.47 per share, for a total transaction of $104,100.00. Following the completion of the purchase, the director now directly owns 134,717 shares in the company, valued at approximately $467,467.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Journey Medical Stock Up 5.4 %

Shares of Journey Medical stock opened at $3.89 on Thursday. The company has a market cap of $72.00 million, a PE ratio of -11.11 and a beta of 0.83. Journey Medical Co. has a 1-year low of $1.02 and a 1-year high of $8.11.

Analyst Ratings Changes

Separately, Alliance Global Partners began coverage on shares of Journey Medical in a research note on Friday, February 16th. They set a “buy” rating and a $8.50 price objective on the stock.

Hedge Funds Weigh In On Journey Medical

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased 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 worth $746,000 after buying an additional 56,781 shares during the period. Virtu Financial LLC bought a new position in shares of Journey Medical in the fourth quarter valued at $153,000. Northern Trust Corp bought a new position in shares of Journey Medical in the fourth quarter valued at $96,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Journey Medical in the fourth quarter valued at about $65,000. 7.25% of the stock is currently owned by institutional investors and hedge funds.

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.