Verrica Pharmaceuticals (NASDAQ:VRCA) Stock Rating Lowered by HC Wainwright

Verrica Pharmaceuticals (NASDAQ:VRCA) was downgraded by research analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a report released on Wednesday, MarketBeat reports.

Other research analysts have also issued reports about the stock. Royal Bank of Canada lowered shares of Verrica Pharmaceuticals from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $11.00 to $2.00 in a research note on Tuesday. Needham & Company LLC restated a “hold” rating on shares of Verrica Pharmaceuticals in a research report on Tuesday. Brookline Capital Management reiterated a “hold” rating on shares of Verrica Pharmaceuticals in a report on Wednesday, October 2nd. Finally, TD Cowen decreased their price target on Verrica Pharmaceuticals from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Verrica Pharmaceuticals has an average rating of “Hold” and an average price target of $9.60.

Verrica Pharmaceuticals Trading Down 5.6 %

Shares of VRCA opened at $0.70 on Wednesday. The stock has a market capitalization of $30.05 million, a PE ratio of -0.38 and a beta of 1.45. The company’s fifty day moving average is $1.61 and its 200 day moving average is $5.11. The company has a debt-to-equity ratio of 29.58, a quick ratio of 2.23 and a current ratio of 2.36. Verrica Pharmaceuticals has a fifty-two week low of $0.70 and a fifty-two week high of $11.41.

Verrica Pharmaceuticals (NASDAQ:VRCA) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.12). The business had revenue of ($1.78) million during the quarter, compared to analysts’ expectations of $7.53 million. Verrica Pharmaceuticals had a negative return on equity of 3,102.90% and a negative net margin of 625.06%. Sell-side analysts expect that Verrica Pharmaceuticals will post -1.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verrica Pharmaceuticals

A number of institutional investors have recently modified their holdings of the stock. Quest Partners LLC purchased a new stake in shares of Verrica Pharmaceuticals in the second quarter valued at approximately $50,000. Key Financial Inc bought a new stake in Verrica Pharmaceuticals during the 2nd quarter valued at $69,000. Rhumbline Advisers lifted its holdings in shares of 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 period. Renaissance Technologies LLC bought a new position in shares of Verrica Pharmaceuticals during the 2nd quarter worth $332,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Verrica Pharmaceuticals by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 58,680 shares of the company’s stock valued at $428,000 after buying an additional 4,393 shares during the period. 42.45% of the stock is owned by hedge funds and other institutional investors.

Verrica Pharmaceuticals Company Profile

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.