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 report published on Friday,Benzinga reports.

Several other research analysts have also recently weighed in on VRCA. HC Wainwright cut shares of Verrica Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 6th. 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. Royal Bank of Canada downgraded shares of Verrica Pharmaceuticals from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $11.00 to $2.00 in a report on Tuesday, November 5th. Finally, Brookline Capital Management reiterated a “hold” rating on shares of Verrica Pharmaceuticals in a report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.50.

Verrica Pharmaceuticals Trading Up 2.6 %

VRCA opened at $0.69 on Friday. The firm has a market capitalization of $31.66 million, a price-to-earnings ratio of -0.38 and a beta of 1.40. The company’s 50 day simple moving average is $1.11 and its two-hundred day simple moving average is $3.56. Verrica Pharmaceuticals has a 1-year low of $0.61 and a 1-year high of $11.41. The company has a debt-to-equity ratio of 29.58, a current ratio of 1.34 and a quick ratio of 1.22.

Verrica Pharmaceuticals (NASDAQ:VRCA) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.49) EPS 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 analyst estimates of $7.53 million. Verrica Pharmaceuticals had a negative net margin of 625.06% and a negative return on equity of 591.84%. Analysts expect that Verrica Pharmaceuticals will post -1.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Verrica Pharmaceuticals

Several large investors have recently made changes to their positions in the stock. Simplify Asset Management Inc. purchased a new stake in Verrica Pharmaceuticals in the second quarter valued at approximately $2,041,000. XTX Topco Ltd acquired a new stake in shares of Verrica Pharmaceuticals in the third quarter valued at $335,000. Verition Fund Management LLC purchased a new stake in shares of Verrica Pharmaceuticals in the 3rd quarter valued at $89,000. State Street Corp lifted its stake in Verrica Pharmaceuticals by 13.5% during the 3rd quarter. State Street Corp now owns 512,821 shares of the company’s stock worth $744,000 after acquiring an additional 61,041 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Verrica Pharmaceuticals during the 3rd quarter valued at about $87,000. 42.45% of the stock is currently owned by institutional investors and hedge funds.

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.