Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) Receives $9.60 Average Target Price from Analysts

Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) has received an average recommendation of “Hold” from the six analysts that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $9.60.

VRCA has been the subject of a number of research analyst reports. Royal Bank of Canada downgraded Verrica Pharmaceuticals from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $11.00 to $2.00 in a report on Tuesday, November 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Verrica Pharmaceuticals in a report on Tuesday, November 5th. TD Cowen lowered their price target on Verrica Pharmaceuticals from $15.00 to $10.00 and set a “buy” rating for the company in a report on Monday, October 21st. HC Wainwright downgraded Verrica Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Wednesday, November 6th. Finally, Brookline Capital Management reaffirmed a “hold” rating on shares of Verrica Pharmaceuticals in a report on Wednesday, October 2nd.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Verrica Pharmaceuticals by 0.6% during the first quarter. Vanguard Group Inc. now owns 1,268,710 shares of the company’s stock valued at $7,511,000 after acquiring an additional 7,609 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Verrica Pharmaceuticals by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 58,680 shares of the company’s stock worth $428,000 after buying an additional 4,393 shares during the last quarter. Key Financial Inc acquired a new stake in Verrica Pharmaceuticals in the 2nd quarter worth about $69,000. Rhumbline Advisers boosted its stake in Verrica Pharmaceuticals by 20.4% in the 2nd quarter. Rhumbline Advisers now owns 26,591 shares of the company’s stock worth $194,000 after buying an additional 4,514 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in Verrica Pharmaceuticals in the 2nd quarter worth about $50,000. Hedge funds and other institutional investors own 42.45% of the company’s stock.

Verrica Pharmaceuticals Stock Down 3.5 %

Shares of VRCA opened at $0.83 on Friday. The firm has a market cap of $38.01 million, a P/E ratio of -0.46 and a beta of 1.45. Verrica Pharmaceuticals has a 12-month low of $0.70 and a 12-month high of $11.41. The company’s 50-day moving average price is $1.45 and its 200 day moving average price is $4.83. 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 (NASDAQ:VRCA) last released its earnings results on Monday, November 4th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.12). Verrica Pharmaceuticals had a negative return on equity of 591.84% and a negative net margin of 625.06%. The firm had revenue of ($1.78) million for the quarter, compared to analysts’ expectations of $7.53 million. On average, sell-side analysts forecast that Verrica Pharmaceuticals will post -1.42 earnings per share for the current year.

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.