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

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

Several other research analysts also recently commented on VRCA. Brookline Capital Management reaffirmed a “hold” rating on shares of Verrica Pharmaceuticals in a report on Wednesday, October 2nd. Royal Bank of Canada cut Verrica Pharmaceuticals from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $11.00 to $2.00 in a report on Tuesday. Finally, TD Cowen lowered their price target on shares of Verrica Pharmaceuticals from $15.00 to $10.00 and set a “buy” rating for the company in a report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $9.60.

Verrica Pharmaceuticals Price Performance

NASDAQ:VRCA opened at $0.83 on Tuesday. Verrica Pharmaceuticals has a 52 week low of $0.70 and a 52 week high of $11.41. The company has a debt-to-equity ratio of 29.58, a quick ratio of 2.23 and a current ratio of 1.34. The firm’s 50-day simple moving average is $1.58 and its 200 day simple moving average is $5.07. The firm has a market cap of $37.84 million, a price-to-earnings ratio of -0.45 and a beta of 1.45.

Verrica Pharmaceuticals (NASDAQ:VRCA) last released its 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). Verrica Pharmaceuticals had a negative net margin of 625.06% and a negative return on equity of 3,102.90%. The firm had revenue of ($1.78) million during the quarter, compared to the consensus estimate of $7.53 million. As a group, sell-side analysts predict that Verrica Pharmaceuticals will post -1.5 earnings per share for the current year.

Institutional Investors Weigh In On Verrica Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in VRCA. Simplify Asset Management Inc. acquired a new stake in shares of Verrica Pharmaceuticals during the 2nd quarter worth approximately $2,041,000. Vanguard Group Inc. grew its holdings in 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 period. Quest Partners LLC acquired a new stake in Verrica Pharmaceuticals in the second quarter worth $50,000. Key Financial Inc bought a new stake in Verrica Pharmaceuticals in the second quarter valued at $69,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Verrica Pharmaceuticals during the second quarter valued at about $332,000. 42.45% of the stock is currently 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.