Journey Medical Q2 revenue rises 23%, slightly beats estimates
Journey Medical Q2 revenue rises 23%, slightly beats estimates
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
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
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
COST MANAGEMENT - Co attributed improved profitability to disciplined investment in its dermatology commercial infrastructure and reduced launch-related spending for Emrosi
Company press release: ID:nGNX3MdM1h
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.
Analyst Coverage
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
Reuters Recommended Reads
Aug 11 - Veradermics Q2 net loss widens on higher expenses
Aug 11 - Fennec Pharmaceuticals Q2 sales rise on PEDMARK demand
Aug 10 - Telehealth platform Hims & Hers swings to Q2 net loss as margin pressure offsets revenue growth
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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