Verrica Pharmaceuticals (NASDAQ:VRCA) Rating Reiterated by Needham & Company LLC

Verrica Pharmaceuticals (NASDAQ:VRCA)‘s stock had its “hold” rating reaffirmed by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $12.00 target price on the stock.

Several other equities analysts have also recently weighed in on VRCA. Royal Bank of Canada lowered their price target on Verrica Pharmaceuticals from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Thursday, August 15th. Brookline Capital Management reissued a “hold” rating on shares of Verrica Pharmaceuticals in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.25.

Verrica Pharmaceuticals Trading Down 19.0 %

Verrica Pharmaceuticals stock opened at $1.11 on Thursday. Verrica Pharmaceuticals has a one year low of $1.04 and a one year high of $11.41. The business’s fifty day moving average is $3.34 and its 200 day moving average is $6.00. The company has a debt-to-equity ratio of 29.58, a current ratio of 2.36 and a quick ratio of 2.23. The stock has a market capitalization of $47.09 million, a PE ratio of -0.63 and a beta of 1.48.

Verrica Pharmaceuticals (NASDAQ:VRCA) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.06. The firm had revenue of $5.18 million during the quarter, compared to analyst estimates of $4.70 million. Verrica Pharmaceuticals had a negative net margin of 625.06% and a negative return on equity of 591.84%. On average, sell-side analysts predict that Verrica Pharmaceuticals will post -1.56 EPS for the current year.

Insider Transactions at Verrica Pharmaceuticals

In related news, CEO Ted White sold 32,469 shares of Verrica Pharmaceuticals stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $7.06, for a total transaction of $229,231.14. Following the transaction, the chief executive officer now directly owns 250,121 shares in the company, valued at $1,765,854.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Verrica Pharmaceuticals news, CEO Ted White sold 32,469 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $7.06, for a total transaction of $229,231.14. Following the sale, the chief executive officer now owns 250,121 shares in the company, valued at approximately $1,765,854.26. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joe Bonaccorso sold 25,461 shares of Verrica Pharmaceuticals stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $7.06, for a total transaction of $179,754.66. Following the transaction, the insider now directly owns 106,931 shares in the company, valued at approximately $754,932.86. The disclosure for this sale can be found here. 42.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Verrica Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the business. Perceptive Advisors LLC lifted its position in shares of Verrica Pharmaceuticals by 40.9% in the fourth quarter. Perceptive Advisors LLC now owns 7,099,182 shares of the company’s stock valued at $51,966,000 after acquiring an additional 2,060,199 shares in the last quarter. Avoro Capital Advisors LLC lifted its holdings in shares of Verrica Pharmaceuticals by 35.4% in the fourth quarter. Avoro Capital Advisors LLC now owns 3,999,999 shares of the company’s stock worth $29,280,000 after buying an additional 1,045,935 shares in the last quarter. Simplify Asset Management Inc. bought a new position in shares of Verrica Pharmaceuticals during the second quarter worth $2,041,000. Renaissance Technologies LLC bought a new position in shares of Verrica Pharmaceuticals during the second quarter worth $332,000. Finally, Key Financial Inc purchased a new position in Verrica Pharmaceuticals during the second quarter valued at $69,000. Hedge funds and other institutional investors own 42.45% of the company’s stock.

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.