Verrica Pharmaceuticals (NASDAQ:VRCA) PT Lowered to $13.00 at Royal Bank of Canada

Verrica Pharmaceuticals (NASDAQ:VRCA) 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.

Verrica Pharmaceuticals Stock Down 5.8 %

Shares of VRCA stock traded down $0.18 during trading on Thursday, reaching $2.94. The company’s stock had a trading volume of 1,186,689 shares, compared to its average volume of 239,987. Verrica Pharmaceuticals has a one year low of $2.85 and a one year high of $11.41. The business has a fifty day moving average price of $7.21 and a 200-day moving average price of $6.75. The company has a market cap of $124.71 million, a price-to-earnings ratio of -1.69 and a beta of 1.56. The company has a quick ratio of 3.04, a current ratio of 3.17 and a debt-to-equity ratio of 29.58.

Verrica Pharmaceuticals (NASDAQ:VRCA) 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.