Verrica Pharmaceuticals’ (VRCA) “Hold” Rating Reaffirmed at Needham & Company LLC

Verrica Pharmaceuticals (NASDAQ:VRCA)‘s stock had its “hold” rating reaffirmed by equities researchers at Needham & Company LLC in a research note issued to investors on Tuesday, Benzinga reports.

Several other equities research analysts have also recently weighed in on the stock. Brookline Capital Management reissued a “hold” rating on shares of Verrica Pharmaceuticals in a research report on Wednesday, October 2nd. Royal Bank of Canada lowered shares of Verrica Pharmaceuticals from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $11.00 to $2.00 in a report on Tuesday. Finally, TD Cowen reduced their price target on Verrica Pharmaceuticals from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.60.

Verrica Pharmaceuticals Trading Down 41.3 %

Shares of NASDAQ:VRCA traded down $0.59 on Tuesday, reaching $0.84. 2,759,098 shares of the company traded hands, compared to its average volume of 443,345. Verrica Pharmaceuticals has a 52 week low of $0.75 and a 52 week high of $11.41. The company has a current ratio of 2.36, a quick ratio of 2.23 and a debt-to-equity ratio of 29.58. The business’s 50-day simple moving average is $1.71 and its 200 day simple moving average is $5.21. The stock has a market capitalization of $35.80 million, a P/E ratio of -0.45 and a beta of 1.45.

Verrica Pharmaceuticals (NASDAQ:VRCA) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.12). The company had revenue of ($1.78) million during the quarter, compared to analysts’ expectations of $7.53 million. Verrica Pharmaceuticals had a negative return on equity of 591.84% and a negative net margin of 625.06%. As a group, equities analysts anticipate that Verrica Pharmaceuticals will post -1.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Verrica Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Verrica Pharmaceuticals by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 1,268,710 shares of the company’s stock worth $7,511,000 after buying an additional 7,609 shares during the period. Simplify Asset Management Inc. purchased a new position in shares of Verrica Pharmaceuticals during the second quarter valued at approximately $2,041,000. Bank of New York Mellon Corp grew its stake in shares of 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 worth $428,000 after buying an additional 4,393 shares during the last quarter. Renaissance Technologies LLC bought a new position in Verrica Pharmaceuticals during the 2nd quarter valued at approximately $332,000. Finally, Rhumbline Advisers raised its stake in Verrica Pharmaceuticals by 20.4% during the second 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. 42.45% of the stock is owned by institutional investors.

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.