Verrica Pharmaceuticals’ (VRCA) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Verrica Pharmaceuticals (NASDAQ:VRCA) in a research note issued to investors on Tuesday morning,Benzinga reports.

Other research analysts have also issued reports about the stock. Brookline Capital Management reiterated a “hold” rating on shares of Verrica Pharmaceuticals in a research note on Wednesday, October 2nd. Royal Bank of Canada cut Verrica Pharmaceuticals from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $11.00 to $2.00 in a research report on Tuesday. Finally, TD Cowen decreased their price objective on Verrica Pharmaceuticals from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.60.

Verrica Pharmaceuticals Stock Down 5.6 %

Shares of NASDAQ VRCA opened at $0.70 on Tuesday. The company has a debt-to-equity ratio of 29.58, a current ratio of 2.36 and a quick ratio of 2.23. The stock has a market capitalization of $30.05 million, a PE ratio of -0.38 and a beta of 1.45. Verrica Pharmaceuticals has a one year low of $0.70 and a one year high of $11.41. The business’s fifty day moving average price is $1.61 and its 200-day moving average price is $5.11.

Verrica Pharmaceuticals (NASDAQ:VRCA) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.12). The business had revenue of ($1.78) million for the quarter, compared to analysts’ expectations of $7.53 million. Verrica Pharmaceuticals had a negative net margin of 625.06% and a negative return on equity of 3,102.90%. On average, equities research analysts anticipate that Verrica Pharmaceuticals will post -1.5 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in Verrica Pharmaceuticals by 8.1% during 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 during the period. Rhumbline Advisers boosted its position in shares of Verrica Pharmaceuticals by 20.4% during the 2nd quarter. Rhumbline Advisers now owns 26,591 shares of the company’s stock valued at $194,000 after acquiring an additional 4,514 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Verrica Pharmaceuticals during the second quarter worth about $50,000. 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 worth $7,511,000 after purchasing an additional 7,609 shares during the last quarter. Finally, Key Financial Inc purchased a new stake in Verrica Pharmaceuticals in the second quarter valued at approximately $69,000. Institutional investors own 42.45% of the company’s stock.

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.