Needham & Company LLC Reiterates Hold Rating for Verrica Pharmaceuticals (NASDAQ:VRCA)

Verrica Pharmaceuticals (NASDAQ:VRCA)‘s stock had its “hold” rating restated by equities researchers at Needham & Company LLC in a research note issued on Tuesday, Benzinga reports.

VRCA has been the subject of a number of other research reports. Brookline Capital Management reiterated a “hold” rating on shares of Verrica Pharmaceuticals in a research report on Wednesday, October 2nd. Royal Bank of Canada lowered shares of Verrica Pharmaceuticals from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $11.00 to $2.00 in a report on Tuesday. Finally, TD Cowen dropped their price objective on shares of Verrica Pharmaceuticals from $15.00 to $10.00 and set a “buy” rating for the company in a report on Monday, October 21st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Verrica Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $9.60.

Verrica Pharmaceuticals Price Performance

NASDAQ VRCA opened at $0.75 on Tuesday. The company has a market cap of $31.84 million, a PE ratio of -0.41 and a beta of 1.45. The company has a quick ratio of 2.23, a current ratio of 2.36 and a debt-to-equity ratio of 29.58. The firm’s 50-day simple moving average is $1.64 and its two-hundred day simple moving average is $5.14. Verrica Pharmaceuticals has a 52 week low of $0.74 and a 52 week high of $11.41.

Verrica Pharmaceuticals (NASDAQ:VRCA) last released 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 firm had revenue of ($1.78) million during the quarter, compared to the consensus estimate of $7.53 million. Verrica Pharmaceuticals had a negative net margin of 625.06% and a negative return on equity of 3,102.90%. Research analysts predict that Verrica Pharmaceuticals will post -1.5 earnings per share for the current year.

Institutional Investors Weigh In On Verrica Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted 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 purchasing an additional 4,393 shares during the period. Rhumbline Advisers grew its position 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. Quest Partners LLC bought a new position in shares of Verrica Pharmaceuticals in the 2nd quarter worth about $50,000. Vanguard Group Inc. lifted its position in Verrica Pharmaceuticals by 0.6% during the 1st 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 period. Finally, Key Financial Inc bought a new stake in Verrica Pharmaceuticals during the second quarter worth about $69,000. 42.45% of the stock is currently owned by 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.