Verrica Pharmaceuticals (NASDAQ:VRCA) Shares Down 2% – Should You Sell?

Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) shares dropped 2% during mid-day trading on Friday. The company traded as low as $3.25 and last traded at $3.35. 33,786 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 53,652 shares. The stock had previously closed at $3.42.

Analysts Set New Price Targets

Several equities research analysts have recently commented on VRCA shares. Wall Street Zen upgraded Verrica Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 26th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Verrica Pharmaceuticals in a research report on Tuesday, October 13th. Finally, Lake Street Capital started coverage on Verrica Pharmaceuticals in a report on Thursday, August 27th. They set a “buy” rating and a $9.00 price target for the company. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Verrica Pharmaceuticals has an average rating of “Hold” and a consensus price target of $12.67.

Verrica Pharmaceuticals Stock Performance

The business has a 50 day moving average of $4.41 and a 200 day moving average of $5.62. The company has a market capitalization of $57.55 million, a P/E ratio of -2.01 and a beta of 1.60. The company has a quick ratio of 1.33, a current ratio of 1.45 and a debt-to-equity ratio of 0.18.

Institutional Investors Weigh In On Verrica Pharmaceuticals

An institutional investor recently raised its position in Verrica Pharmaceuticals stock. Renaissance Technologies LLC grew its position in Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) by 22.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,360 shares of the company’s stock after buying an additional 5,960 shares during the quarter. Renaissance Technologies LLC owned 0.19% of Verrica Pharmaceuticals worth $171,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 42.45% of the company’s stock.

About Verrica Pharmaceuticals

Verrica Pharmaceuticals Inc is a dermatology-focused biopharmaceutical company developing and commercializing therapies for skin diseases that have limited or inadequate treatment options. The company’s activities center on prescription products designed for use by dermatologists and other healthcare professionals.

Verrica’s lead commercial product is YCANTHE (cantharidin) topical solution, 0.7%, a prescription treatment approved by the U.S. Food and Drug Administration for molluscum contagiosum in adults and children two years of age and older.