Verrica Pharmaceuticals (NASDAQ:VRCA) Price Target Lowered to $11.00 at Royal Bank of Canada

Verrica Pharmaceuticals (NASDAQ:VRCA) had its price objective dropped by investment analysts at Royal Bank of Canada from $13.00 to $11.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock.

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC reissued a “hold” rating and issued a $12.00 target price on shares of Verrica Pharmaceuticals in a research note on Thursday. Brookline Capital Management reissued a “hold” rating on shares of Verrica Pharmaceuticals in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.75.

Verrica Pharmaceuticals Stock Down 0.7 %

Shares of VRCA stock traded down $0.01 during mid-day trading on Friday, reaching $1.44. 879,560 shares of the company’s stock traded hands, compared to its average volume of 431,087. Verrica Pharmaceuticals has a 12 month low of $1.04 and a 12 month high of $11.41. The company has a market cap of $61.46 million, a P/E ratio of -0.82 and a beta of 1.45. The company’s 50-day moving average price is $3.10 and its 200-day moving average price is $5.94. The company has a quick ratio of 2.23, a current ratio of 2.36 and a debt-to-equity ratio of 29.58.

Verrica Pharmaceuticals (NASDAQ:VRCA) last announced its earnings results on Wednesday, August 14th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.06. Verrica Pharmaceuticals had a negative net margin of 625.06% and a negative return on equity of 591.84%. The business had revenue of $5.18 million during the quarter, compared to the consensus estimate of $4.70 million. On average, equities analysts expect that Verrica Pharmaceuticals will post -1.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Joe Bonaccorso sold 25,461 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was 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 of the company’s stock, valued at $754,932.86. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Joe Bonaccorso sold 25,461 shares of the 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 owns 106,931 shares in the company, valued at $754,932.86. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ted White sold 32,469 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 250,121 shares in the company, valued at $1,765,854.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 42.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of VRCA. Perceptive Advisors LLC increased its position in shares of Verrica Pharmaceuticals by 40.9% during the 4th quarter. Perceptive Advisors LLC now owns 7,099,182 shares of the company’s stock valued at $51,966,000 after purchasing an additional 2,060,199 shares during the last quarter. Avoro Capital Advisors LLC grew its position in Verrica Pharmaceuticals by 35.4% during the fourth quarter. Avoro Capital Advisors LLC now owns 3,999,999 shares of the company’s stock valued at $29,280,000 after buying an additional 1,045,935 shares during the period. Simplify Asset Management Inc. purchased a new stake in Verrica Pharmaceuticals during the second quarter valued at approximately $2,041,000. Renaissance Technologies LLC bought a new position in Verrica Pharmaceuticals in the second quarter worth approximately $332,000. Finally, Key Financial Inc purchased a new position in shares of Verrica Pharmaceuticals during the 2nd quarter worth $69,000. 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.