Journey Medical Q2 revenue rises 23%, slightly beats estimates
DERM•Outlook
- Company says prescription demand and payer coverage for Emrosi are increasing
- Journey Medical believes it is well-positioned to deliver strong financial performance going forward
Overview
- U.S. dermatology drug maker's Q2 revenue grew 23% yr/yr, slightly beating analyst expectations
- Net loss for Q2 narrowed to $0.3 mln from $3.8 mln a year ago
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Slight Beat* | $18.50 mln | $18.37 mln (4 Analysts) |
| Q2 Loss Per Share | $0.01 |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell". The average consensus recommendation for the pharmaceuticals peer group is "buy". Wall Street's median 12-month price target for Journey Medical Corp is $13.00, about 105.7% above its August 11 closing price of $6.32. The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 13 three months ago.
Result drivers
- Emrosi demand - Co said Q2 revenue growth was driven by continued commercial demand momentum for Emrosi, with sales and prescriptions increasing compared to prior periods
