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

Verrica Pharmaceuticals (NASDAQ:VRCA)‘s stock had its “hold” rating reissued by Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports.

Several other brokerages also recently weighed in on VRCA. Royal Bank of Canada downgraded shares of Verrica Pharmaceuticals from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $11.00 to $2.00 in a report on Tuesday, November 5th. TD Cowen cut their price objective 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. Brookline Capital Management reissued a “hold” rating on shares of Verrica Pharmaceuticals in a report on Wednesday, October 2nd. Finally, HC Wainwright lowered shares of Verrica Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $9.50.

Verrica Pharmaceuticals Stock Performance

Shares of NASDAQ VRCA traded up $0.00 during midday trading on Friday, reaching $0.68. The company had a trading volume of 359,875 shares, compared to its average volume of 493,556. The stock has a market cap of $31.01 million, a P/E ratio of -0.37 and a beta of 1.40. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 29.58. Verrica Pharmaceuticals has a 1 year low of $0.61 and a 1 year high of $11.41. The business’s 50-day simple moving average is $1.14 and its 200 day simple moving average is $3.67.

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

Institutional Investors Weigh In On Verrica Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in VRCA. Simplify Asset Management Inc. acquired a new position in shares of Verrica Pharmaceuticals in the 2nd quarter valued at $2,041,000. XTX Topco Ltd purchased a new position in Verrica Pharmaceuticals in the third quarter valued at $335,000. Verition Fund Management LLC purchased a new position in Verrica Pharmaceuticals in the third quarter valued at $89,000. State Street Corp raised its position in shares of Verrica Pharmaceuticals by 13.5% in the third quarter. State Street Corp now owns 512,821 shares of the company’s stock worth $744,000 after acquiring an additional 61,041 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Verrica Pharmaceuticals during the 3rd quarter worth about $87,000. Institutional investors and hedge funds 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.