Needham & Company LLC Reiterates “Hold” Rating for Verrica Pharmaceuticals (NASDAQ:VRCA)

Verrica Pharmaceuticals (NASDAQ:VRCA)‘s stock had its “hold” rating reissued by equities research analysts at Needham & Company LLC in a report issued on Wednesday,Benzinga reports.

Separately, HC Wainwright restated a “neutral” rating on shares of Verrica Pharmaceuticals in a research note on Tuesday. 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.com, Verrica Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $9.50.

Verrica Pharmaceuticals Stock Performance

VRCA opened at $0.44 on Wednesday. The stock has a market cap of $40.62 million, a price-to-earnings ratio of -0.24 and a beta of 1.68. The firm’s fifty day moving average is $0.60 and its 200 day moving average is $0.87. Verrica Pharmaceuticals has a fifty-two week low of $0.38 and a fifty-two week high of $11.41.

Verrica Pharmaceuticals (NASDAQ:VRCA) last announced its quarterly earnings data on Tuesday, March 11th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.01. Verrica Pharmaceuticals had a negative return on equity of 591.84% and a negative net margin of 625.06%. The business had revenue of $0.34 million for the quarter, compared to the consensus estimate of $1.30 million. On average, equities research analysts predict that Verrica Pharmaceuticals will post -1.46 earnings per share for the current year.

Institutional Investors Weigh In On Verrica Pharmaceuticals

Several large investors have recently made changes to their positions in the company. Rhumbline Advisers grew its holdings in Verrica Pharmaceuticals by 975.2% during the 4th quarter. Rhumbline Advisers now owns 266,093 shares of the company’s stock valued at $186,000 after buying an additional 241,344 shares in the last quarter. Verition Fund Management LLC purchased a new position in shares of Verrica Pharmaceuticals in the third quarter valued at $89,000. Barclays PLC grew its holdings in shares of Verrica Pharmaceuticals by 404.6% in the third quarter. Barclays PLC now owns 31,341 shares of the company’s stock valued at $45,000 after purchasing an additional 25,130 shares in the last quarter. State Street Corp raised its stake in Verrica Pharmaceuticals by 13.5% during the third quarter. State Street Corp now owns 512,821 shares of the company’s stock valued at $744,000 after purchasing an additional 61,041 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in Verrica Pharmaceuticals by 106.5% during the third quarter. Jane Street Group LLC now owns 69,872 shares of the company’s stock valued at $101,000 after purchasing an additional 36,028 shares during the last quarter. 42.45% of the stock is owned by institutional investors.

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.