Analyst Brandon Folkes from H.C. Wainwright reiterated a Buy rating on Journey Medical Corp and keeping the price target at $13.00.
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Brandon Folkes has given his Buy rating due to a combination of factors including the strong market performance and growth potential of Journey Medical Corp’s Emrosi product. The significant increase in prescriptions and prescriber base for Emrosi, along with its promising revenue growth, highlights its successful market penetration since its launch. The company’s financial position is also favorable, with a reported revenue increase and a trajectory towards becoming operating cash flow positive by 2026.
Moreover, Emrosi’s efficacy has been validated through successful Phase 3 trials, demonstrating superior results compared to placebo and doxycycline. The expansion of payer access, now covering over 100 million commercial lives, further supports the potential for continued revenue growth. These factors collectively suggest a favorable risk-reward scenario for Journey Medical Corp, justifying the Buy rating and a price target of $13.