Verrica Pharmaceuticals (NASDAQ:VRCA) Earns Hold Rating from Needham & Company LLC

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

A number of other equities analysts have also weighed in on VRCA. Royal Bank of Canada lowered shares of Verrica Pharmaceuticals from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $11.00 to $2.00 in a report on Tuesday, November 5th. Brookline Capital Management reaffirmed a “hold” rating on shares of Verrica Pharmaceuticals in a report on Wednesday, October 2nd. TD Cowen reduced their price objective on Verrica Pharmaceuticals from $15.00 to $10.00 and set a “buy” rating for the company in a report on Monday, October 21st. Finally, HC Wainwright cut shares of Verrica Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Verrica Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $9.50.

Verrica Pharmaceuticals Price Performance

VRCA stock opened at $0.69 on Friday. The firm has a 50-day moving average of $1.13 and a 200 day moving average of $3.65. The company has a debt-to-equity ratio of 29.58, a current ratio of 1.34 and a quick ratio of 1.22. The company has a market cap of $31.66 million, a P/E ratio of -0.38 and a beta of 1.40. Verrica Pharmaceuticals has a 1 year low of $0.61 and a 1 year high of $11.41.

Verrica Pharmaceuticals (NASDAQ:VRCA) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.12). The company had revenue of ($1.78) million for the quarter, compared to the consensus estimate of $7.53 million. Verrica Pharmaceuticals had a negative net margin of 625.06% and a negative return on equity of 591.84%. On average, sell-side analysts forecast that Verrica Pharmaceuticals will post -1.42 EPS for the current year.

Hedge Funds Weigh In On Verrica Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC grew its position in shares of Verrica Pharmaceuticals by 404.6% during the 3rd quarter. Barclays PLC now owns 31,341 shares of the company’s stock valued at $45,000 after acquiring an additional 25,130 shares during the period. Quest Partners LLC purchased a new stake in Verrica Pharmaceuticals in the second quarter worth about $50,000. Key Financial Inc bought a new position in shares of Verrica Pharmaceuticals in the second quarter worth about $69,000. Sanctuary Advisors LLC purchased a new position in shares of Verrica Pharmaceuticals during the 3rd quarter valued at about $87,000. Finally, Verition Fund Management LLC bought a new position in shares of Verrica Pharmaceuticals during the 3rd quarter valued at approximately $89,000. Hedge funds and other institutional investors own 42.45% of the company’s stock.

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.