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Is it a Good Idea to Buy Journey Medical (DERM) Stock Now?
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Journey Medical Corporation (DERM - Free Report) markets eight branded and two generic products to treat some common skin conditions.
Its key pipeline candidate is DFD-29, which is being developed as an oral treatment of inflammatory lesions (papules and pustules) and erythema of rosacea. Journey Medical announced positive top-line data from two phase III studies on DFD-29 in July. The studies achieved the co-primary and all secondary endpoints, demonstrating statistically superior efficacy of DFD-29 over Oracea (standard of care) and placebo. Oracea is used to treat inflammation associated with rosacea in adults.
The studies also demonstrated the beneficial effect of DFD-29 on erythema assessment, which means redness from rosacea. Erythema assessment is a key secondary endpoint of the study. Erythema is an important sign of rosacea severity. Improving erythema is relevant to rosacea treatment. DFD-29’s significant impact on erythema reduction could prove to be the differentiating factor for DFD-29 over the current standard of care for rosacea. The company plans to file a new drug application for DFD-29 toward the end of 2023. Journey Medical believes DFD-29 has the potential to change the treatment paradigm for rosacea.
Journey Medical's stock has risen 226.6% so far this year against a decrease of 6.8% for the industry.
Image Source: Zacks Investment Research
Journey Medical sports a Zacks Rank #1 (Strong Buy) currently. Estimates for Journey Medical’s 2023 loss per share have narrowed from $1.28 per share to a loss of 16 cents per share over the past 60 days, while those for 2024 have improved from a loss of 41 cents per share to earnings of 35 cents per share over the same timeframe.
Other Stocks to Consider
Some other top-ranked drug/biotech companies worth considering are Novo Nordisk (NVO - Free Report) , Aurinia Pharmaceuticals (AUPH - Free Report) and Alpine Immune Sciences (ALPN - Free Report) . While Novo Nordisk sports a Zacks Rank #1 (Strong Buy) at present, Aurinia Pharmaceuticals and Alpine Immune Sciences have a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Estimates for Novo Nordisk’s 2023 earnings per share have increased from $2.51 to $2.62 over the past 60 days. Estimates for 2024 have jumped from $2.95 per share to $3.14 over the same timeframe. NVO’s stock has surged 41.8% year to date.
Earnings of Novo Nordisk beat estimates in two of the last four quarters, missed in one and matched estimates in one, delivering an earnings surprise of 0.58% on average.
In the past 60 days, the loss per share estimate for Aurinia Pharmaceuticals for 2023 has narrowed from 58 cents per share to 51 cents per share. Year to date, shares of Aurinia Pharmaceuticals have gained 99%.
Earnings of Aurinia Pharmaceuticals beat estimates in all the last four quarters, delivering an earnings surprise of 40.71% on average.
In the past 60 days, the consensus estimate for Alpine Immune Sciences’ 2023 loss has narrowed from $1.18 per share to $1.10 per share, while the same for 2024 has narrowed from $1.47 per share to $1.38 per share. Year to date, shares of Alpine Immune Sciences have rallied 135.5%.
ALPN’s earnings beat estimates in three of the trailing four quarters and missed the mark once, delivering an average negative earnings surprise of 8.21%.
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Is it a Good Idea to Buy Journey Medical (DERM) Stock Now?
Journey Medical Corporation (DERM - Free Report) markets eight branded and two generic products to treat some common skin conditions.
Its key pipeline candidate is DFD-29, which is being developed as an oral treatment of inflammatory lesions (papules and pustules) and erythema of rosacea. Journey Medical announced positive top-line data from two phase III studies on DFD-29 in July. The studies achieved the co-primary and all secondary endpoints, demonstrating statistically superior efficacy of DFD-29 over Oracea (standard of care) and placebo. Oracea is used to treat inflammation associated with rosacea in adults.
The studies also demonstrated the beneficial effect of DFD-29 on erythema assessment, which means redness from rosacea. Erythema assessment is a key secondary endpoint of the study. Erythema is an important sign of rosacea severity. Improving erythema is relevant to rosacea treatment. DFD-29’s significant impact on erythema reduction could prove to be the differentiating factor for DFD-29 over the current standard of care for rosacea. The company plans to file a new drug application for DFD-29 toward the end of 2023. Journey Medical believes DFD-29 has the potential to change the treatment paradigm for rosacea.
Journey Medical's stock has risen 226.6% so far this year against a decrease of 6.8% for the industry.
Image Source: Zacks Investment Research
Journey Medical sports a Zacks Rank #1 (Strong Buy) currently. Estimates for Journey Medical’s 2023 loss per share have narrowed from $1.28 per share to a loss of 16 cents per share over the past 60 days, while those for 2024 have improved from a loss of 41 cents per share to earnings of 35 cents per share over the same timeframe.
Other Stocks to Consider
Some other top-ranked drug/biotech companies worth considering are Novo Nordisk (NVO - Free Report) , Aurinia Pharmaceuticals (AUPH - Free Report) and Alpine Immune Sciences (ALPN - Free Report) . While Novo Nordisk sports a Zacks Rank #1 (Strong Buy) at present, Aurinia Pharmaceuticals and Alpine Immune Sciences have a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Estimates for Novo Nordisk’s 2023 earnings per share have increased from $2.51 to $2.62 over the past 60 days. Estimates for 2024 have jumped from $2.95 per share to $3.14 over the same timeframe. NVO’s stock has surged 41.8% year to date.
Earnings of Novo Nordisk beat estimates in two of the last four quarters, missed in one and matched estimates in one, delivering an earnings surprise of 0.58% on average.
In the past 60 days, the loss per share estimate for Aurinia Pharmaceuticals for 2023 has narrowed from 58 cents per share to 51 cents per share. Year to date, shares of Aurinia Pharmaceuticals have gained 99%.
Earnings of Aurinia Pharmaceuticals beat estimates in all the last four quarters, delivering an earnings surprise of 40.71% on average.
In the past 60 days, the consensus estimate for Alpine Immune Sciences’ 2023 loss has narrowed from $1.18 per share to $1.10 per share, while the same for 2024 has narrowed from $1.47 per share to $1.38 per share. Year to date, shares of Alpine Immune Sciences have rallied 135.5%.
ALPN’s earnings beat estimates in three of the trailing four quarters and missed the mark once, delivering an average negative earnings surprise of 8.21%.