State Street Corp Has $744,000 Position in Verrica Pharmaceuticals Inc. (NASDAQ:VRCA)

State Street Corp lifted its position in Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) by 13.5% during the third quarter, HoldingsChannel.com reports. The fund owned 512,821 shares of the company’s stock after purchasing an additional 61,041 shares during the period. State Street Corp’s holdings in Verrica Pharmaceuticals were worth $744,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of VRCA. Simplify Asset Management Inc. acquired a new stake in Verrica Pharmaceuticals in the second quarter worth $2,041,000. Verition Fund Management LLC bought a new stake in shares of Verrica Pharmaceuticals in the 3rd quarter valued at $89,000. Bank of New York Mellon Corp raised its stake in Verrica Pharmaceuticals by 8.1% during 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 period. Renaissance Technologies LLC bought a new position in Verrica Pharmaceuticals during the second quarter worth about $332,000. Finally, Rhumbline Advisers grew its stake in Verrica Pharmaceuticals by 20.4% in the second 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 period. Institutional investors own 42.45% of the company’s stock.

Wall Street Analyst Weigh In

VRCA has been the topic of a number of research analyst reports. Brookline Capital Management reaffirmed a “hold” rating on shares of Verrica Pharmaceuticals in a research report on Wednesday, October 2nd. TD Cowen cut their price target on shares of Verrica Pharmaceuticals from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. HC Wainwright downgraded shares of Verrica Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 6th. Royal Bank of Canada lowered shares of Verrica Pharmaceuticals from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $11.00 to $2.00 in a report on Tuesday, November 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Verrica Pharmaceuticals in a research note on Friday, December 20th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $9.50.

Verrica Pharmaceuticals Price Performance

Shares of VRCA opened at $0.70 on Friday. The company has a 50 day moving average of $0.97 and a 200-day moving average of $3.10. The company has a quick ratio of 1.22, a current ratio of 1.34 and a debt-to-equity ratio of 29.58. The stock has a market capitalization of $32.04 million, a P/E ratio of -0.38 and a beta of 1.40. Verrica Pharmaceuticals Inc. has a twelve month low of $0.61 and a twelve month high of $11.41.

Verrica Pharmaceuticals (NASDAQ:VRCA) last released its earnings results on Monday, November 4th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.12). Verrica Pharmaceuticals had a negative net margin of 625.06% and a negative return on equity of 591.84%. The business had revenue of ($1.78) million during the quarter, compared to the consensus estimate of $7.53 million. As a group, equities research analysts forecast that Verrica Pharmaceuticals Inc. will post -1.42 EPS for the current fiscal year.

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.