HC Wainwright Downgrades Verrica Pharmaceuticals (NASDAQ:VRCA) to Neutral

Verrica Pharmaceuticals (NASDAQ:VRCA) was downgraded by equities research analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Briefing.com reports.

A number of other analysts have also commented on the company. Royal Bank of Canada lowered Verrica Pharmaceuticals from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $11.00 to $2.00 in a research report on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Verrica Pharmaceuticals in a research report on Tuesday. TD Cowen dropped their price target on shares of Verrica Pharmaceuticals from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Finally, Brookline Capital Management reaffirmed a “hold” rating on shares of Verrica Pharmaceuticals in a research note on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $9.60.

Verrica Pharmaceuticals Stock Down 44.2 %

Shares of NASDAQ:VRCA opened at $0.80 on Wednesday. Verrica Pharmaceuticals has a 12 month low of $0.75 and a 12 month high of $11.41. The firm has a market cap of $34.03 million, a P/E ratio of -0.44 and a beta of 1.45. The company has a quick ratio of 2.23, a current ratio of 2.36 and a debt-to-equity ratio of 29.58. The company’s 50-day moving average price is $1.67 and its two-hundred day moving average price is $5.17.

Verrica Pharmaceuticals (NASDAQ:VRCA) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.12). The company had revenue of ($1.78) million during the quarter, compared to the consensus estimate of $7.53 million. Verrica Pharmaceuticals had a negative return on equity of 3,102.90% and a negative net margin of 625.06%. As a group, research analysts forecast that Verrica Pharmaceuticals will post -1.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in Verrica Pharmaceuticals in the second quarter worth $50,000. Key Financial Inc acquired a new stake in Verrica Pharmaceuticals during the 2nd quarter worth $69,000. Rhumbline Advisers raised its stake in Verrica Pharmaceuticals by 20.4% during the 2nd quarter. Rhumbline Advisers now owns 26,591 shares of the company’s stock worth $194,000 after buying an additional 4,514 shares during the period. Renaissance Technologies LLC bought a new position in Verrica Pharmaceuticals during the second quarter worth about $332,000. Finally, Bank of New York Mellon Corp grew its stake in Verrica Pharmaceuticals by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 58,680 shares of the company’s stock valued at $428,000 after acquiring an additional 4,393 shares during the period. 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.