Verrica Pharmaceuticals (NASDAQ:VRCA – Get Free Report) had its target price dropped by equities research analysts at Royal Bank of Canada from $14.00 to $13.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 342.18% from the stock’s current price.
Several other equities research analysts have also recently commented on VRCA. HC Wainwright boosted their price target on shares of Verrica Pharmaceuticals from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Needham & Company LLC cut their price target on shares of Verrica Pharmaceuticals from $16.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday.
View Our Latest Report on Verrica Pharmaceuticals
Verrica Pharmaceuticals Stock Down 5.8 %
Verrica Pharmaceuticals (NASDAQ:VRCA – Get Free Report) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.10. Verrica Pharmaceuticals had a negative net margin of 905.83% and a negative return on equity of 229.26%. The firm had revenue of $3.83 million for the quarter, compared to analyst estimates of $2.70 million. Analysts anticipate that Verrica Pharmaceuticals will post -1.57 earnings per share for the current year.
Insiders Place Their Bets
In other news, insider Joe Bonaccorso sold 25,461 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $7.06, for a total transaction of $179,754.66. Following the transaction, the insider now directly owns 106,931 shares in the company, valued at approximately $754,932.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Joe Bonaccorso sold 25,461 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $7.06, for a total transaction of $179,754.66. Following the transaction, the insider now directly owns 106,931 shares in the company, valued at approximately $754,932.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ted White sold 32,469 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $7.06, for a total transaction of $229,231.14. Following the transaction, the chief executive officer now owns 250,121 shares in the company, valued at $1,765,854.26. The disclosure for this sale can be found here. Insiders own 42.60% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. Quest Partners LLC acquired a new position in Verrica Pharmaceuticals in the 2nd quarter valued at about $50,000. Key Financial Inc acquired a new position in Verrica Pharmaceuticals in the 2nd quarter valued at about $69,000. Rhumbline Advisers grew its stake in Verrica Pharmaceuticals by 20.4% in the 2nd quarter. Rhumbline Advisers now owns 26,591 shares of the company’s stock valued at $194,000 after buying an additional 4,514 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Verrica Pharmaceuticals in the 2nd quarter valued at about $332,000. Finally, Bank of New York Mellon Corp grew its stake in Verrica Pharmaceuticals by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 58,680 shares of the company’s stock valued at $428,000 after buying an additional 4,393 shares during the last quarter. Institutional investors and hedge funds own 42.45% of the company’s stock.
Verrica Pharmaceuticals Company Profile
Verrica Pharmaceuticals Inc, a clinical-stage dermatology therapeutics company, develops medications for the treatment of skin diseases in the United States. Its product pipeline comprises YCANTH (VP-102), which is in phase III clinical trial for the treatment of common warts; and has completed phase II clinical trial for the treatment of external genital warts.
Featured Stories
- Five stocks we like better than Verrica Pharmaceuticals
- Compound Interest and Why It Matters When Investing
- Walmart Stock: Buy the Rip or Wait for the Dip?
- Why Special Dividends Can be a Delightful Surprise for Income Investors
- 3 Stocks to Buy for a Soft Landing, If There Is One
- Ride Out The Recession With These Dividend Kings
- Why You Shouldn’t Count Out Tencent Music Stock After Earnings
Receive News & Ratings for Verrica Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verrica Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.