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

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

Verrica Pharmaceuticals Price Performance

Shares of NASDAQ:VRCA opened at $0.65 on Wednesday. The company’s 50-day moving average price is $0.68 and its two-hundred day moving average price is $1.13. Verrica Pharmaceuticals has a one year low of $0.58 and a one year high of $11.41. The stock has a market capitalization of $29.56 million, a PE ratio of -0.35 and a beta of 1.44.

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

Institutional Investors Weigh In On Verrica Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers raised its holdings in shares of Verrica Pharmaceuticals by 975.2% in the 4th 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. Verition Fund Management LLC bought a new stake in shares of Verrica Pharmaceuticals in the 3rd quarter valued at about $89,000. Barclays PLC raised its holdings in shares of Verrica Pharmaceuticals by 404.6% in the 3rd quarter. Barclays PLC now owns 31,341 shares of the company’s stock valued at $45,000 after purchasing an additional 25,130 shares during the period. State Street Corp grew its stake in Verrica Pharmaceuticals by 13.5% in the 3rd quarter. State Street Corp now owns 512,821 shares of the company’s stock valued at $744,000 after buying an additional 61,041 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in Verrica Pharmaceuticals by 106.5% in the 3rd quarter. Jane Street Group LLC now owns 69,872 shares of the company’s stock valued at $101,000 after buying 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.