Verrica Pharmaceuticals (NASDAQ:VRCA) Shares Up 0% – Here’s Why

Verrica Pharmaceuticals Inc. (NASDAQ:VRCA)’s share price shot up 0% during trading on Monday . The company traded as high as $0.63 and last traded at $0.61. 94,422 shares were traded during mid-day trading, a decline of 84% from the average session volume of 585,165 shares. The stock had previously closed at $0.61.

Analyst Upgrades and Downgrades

Several research firms have issued reports on VRCA. Needham & Company LLC restated a “hold” rating on shares of Verrica Pharmaceuticals in a research note on Wednesday, May 14th. Wall Street Zen upgraded shares of Verrica Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Finally, HC Wainwright restated a “neutral” rating on shares of Verrica Pharmaceuticals in a report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $8.00.

Verrica Pharmaceuticals Trading Up 0.0%

The firm has a market capitalization of $56.59 million, a P/E ratio of -0.33 and a beta of 1.75. The stock has a 50 day simple moving average of $0.52 and a 200-day simple moving average of $0.65.

Verrica Pharmaceuticals (NASDAQ:VRCA) last announced its earnings results on Tuesday, May 13th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.04. Verrica Pharmaceuticals had a negative net margin of 625.06% and a negative return on equity of 591.84%. The company had revenue of $3.44 million during the quarter, compared to analyst estimates of $2.53 million. As a group, sell-side analysts expect that Verrica Pharmaceuticals Inc. will post -1.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Verrica Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of VRCA. Rhumbline Advisers grew its holdings in Verrica Pharmaceuticals by 975.2% during the fourth quarter. Rhumbline Advisers now owns 266,093 shares of the company’s stock valued at $186,000 after purchasing an additional 241,344 shares during the period. Invesco Ltd. purchased a new position in shares of Verrica Pharmaceuticals during the 4th quarter valued at about $32,000. Geode Capital Management LLC grew its stake in shares of Verrica Pharmaceuticals by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 477,269 shares of the company’s stock valued at $334,000 after acquiring an additional 21,789 shares during the period. Renaissance Technologies LLC grew its stake in shares of Verrica Pharmaceuticals by 57.7% during the 4th quarter. Renaissance Technologies LLC now owns 233,300 shares of the company’s stock valued at $163,000 after acquiring an additional 85,336 shares during the period. Finally, Heights Capital Management Inc. purchased a new stake in Verrica Pharmaceuticals in the 4th quarter worth approximately $246,000. 42.45% of the stock is currently owned by hedge funds and other 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.