Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) Given Average Recommendation of “Hold” by Brokerages

Shares of Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) have been given an average recommendation of “Hold” by the five ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $60.00.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Verrica Pharmaceuticals in a report on Wednesday.

Verrica Pharmaceuticals Price Performance

Shares of Verrica Pharmaceuticals stock opened at $4.30 on Friday. Verrica Pharmaceuticals has a 1 year low of $3.82 and a 1 year high of $17.38. The business has a 50-day moving average of $5.21 and a two-hundred day moving average of $5.61. The company has a market capitalization of $40.64 million, a P/E ratio of -0.52 and a beta of 1.71.

Verrica Pharmaceuticals (NASDAQ:VRCA) last announced its quarterly earnings results on Tuesday, August 12th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.72. The business had revenue of $12.70 million during the quarter, compared to the consensus estimate of $4.37 million. On average, equities analysts anticipate that Verrica Pharmaceuticals will post -1.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Verrica Pharmaceuticals

Large investors have recently modified their holdings of the business. Sovran Advisors LLC boosted its position in shares of Verrica Pharmaceuticals by 91.3% during the second quarter. Sovran Advisors LLC now owns 750,391 shares of the company’s stock worth $398,000 after buying an additional 358,228 shares during the period. Armistice Capital LLC boosted its position in shares of Verrica Pharmaceuticals by 3.7% during the second quarter. Armistice Capital LLC now owns 8,881,344 shares of the company’s stock worth $4,708,000 after buying an additional 313,944 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Verrica Pharmaceuticals during the second quarter worth about $99,000. Marshall Wace LLP acquired a new position in shares of Verrica Pharmaceuticals during the second quarter worth about $66,000. Finally, Bank of America Corp DE boosted its position in shares of Verrica Pharmaceuticals by 347.5% during the fourth quarter. Bank of America Corp DE now owns 143,818 shares of the company’s stock worth $101,000 after buying an additional 111,678 shares during the period. 42.45% of the stock is currently 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.