Royal Bank of Canada Lowers Verrica Pharmaceuticals (NASDAQ:VRCA) Price Target to $11.00

Verrica Pharmaceuticals (NASDAQ:VRCA) had its target price decreased by Royal Bank of Canada from $13.00 to $11.00 in a research note published on Friday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other research firms have also issued reports on VRCA. Needham & Company LLC reiterated a hold rating and set a $12.00 target price on shares of Verrica Pharmaceuticals in a report on Thursday, October 3rd. Brookline Capital Management reiterated a hold rating on shares of Verrica Pharmaceuticals in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $11.75.

Verrica Pharmaceuticals Trading Up 2.3 %

Shares of VRCA stock opened at $1.34 on Friday. Verrica Pharmaceuticals has a 1-year low of $1.04 and a 1-year high of $11.41. The firm has a market cap of $56.84 million, a PE ratio of -0.77 and a beta of 1.45. The company has a 50-day moving average of $2.87 and a two-hundred day moving average of $5.90. The company has a debt-to-equity ratio of 29.58, a current ratio of 2.36 and a quick ratio of 2.23.

Verrica Pharmaceuticals (NASDAQ:VRCA) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.06. The firm had revenue of $5.18 million for the quarter, compared to the consensus estimate of $4.70 million. Verrica Pharmaceuticals had a negative return on equity of 591.84% and a negative net margin of 625.06%. On average, analysts predict that Verrica Pharmaceuticals will post -1.56 EPS for the current year.

Insider Transactions at Verrica Pharmaceuticals

In related news, insider Joe Bonaccorso sold 25,461 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $7.06, for a total value of $179,754.66. Following the completion of the sale, the insider now directly owns 106,931 shares of the company’s stock, valued at $754,932.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Joe Bonaccorso sold 25,461 shares of the firm’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 $179,754.66. Following the transaction, the insider now owns 106,931 shares of the company’s stock, valued at $754,932.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ted White sold 32,469 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $7.06, for a total value of $229,231.14. Following the sale, the chief executive officer now owns 250,121 shares of the company’s stock, valued at $1,765,854.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 42.60% of the company’s stock.

Institutional Investors Weigh In On Verrica Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Avoro Capital Advisors LLC lifted its stake in shares of Verrica Pharmaceuticals by 35.4% in the fourth quarter. Avoro Capital Advisors LLC now owns 3,999,999 shares of the company’s stock valued at $29,280,000 after purchasing an additional 1,045,935 shares during the period. Perceptive Advisors LLC grew its holdings in Verrica Pharmaceuticals by 40.9% in the fourth quarter. Perceptive Advisors LLC now owns 7,099,182 shares of the company’s stock valued at $51,966,000 after purchasing an additional 2,060,199 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Verrica Pharmaceuticals by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,268,710 shares of the company’s stock valued at $7,511,000 after buying an additional 7,609 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of 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 buying an additional 4,393 shares in the last quarter. Finally, Key Financial Inc acquired a new position in shares of Verrica Pharmaceuticals during the 2nd quarter worth $69,000. 42.45% of the stock is currently owned by hedge funds and other institutional investors.

About Verrica Pharmaceuticals

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.