Verrica Pharmaceuticals (NASDAQ:VRCA) Price Target Lowered to $10.00 at TD Cowen

Verrica Pharmaceuticals (NASDAQ:VRCA) had its target price lowered by TD Cowen from $15.00 to $10.00 in a report published on Monday, Benzinga reports. TD Cowen currently has a buy rating on the stock.

A number of other brokerages have also weighed in on VRCA. Royal Bank of Canada decreased their target price on Verrica Pharmaceuticals from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Brookline Capital Management restated a “hold” rating on shares of Verrica Pharmaceuticals in a report on Wednesday, October 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating and issued a $12.00 price objective on shares of Verrica Pharmaceuticals in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Verrica Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $11.40.

Verrica Pharmaceuticals Price Performance

NASDAQ:VRCA opened at $1.57 on Monday. The firm has a market capitalization of $66.60 million, a price-to-earnings ratio of -0.90 and a beta of 1.45. 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 business has a 50 day simple moving average of $2.02 and a 200-day simple moving average of $5.60. Verrica Pharmaceuticals has a 1 year low of $1.04 and a 1 year high of $11.41.

Verrica Pharmaceuticals (NASDAQ:VRCA) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate 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 company had revenue of $5.18 million during the quarter, compared to analyst estimates of $4.70 million. Equities analysts forecast that Verrica Pharmaceuticals will post -1.58 EPS for the current year.

Institutional Trading of Verrica Pharmaceuticals

Several hedge funds have recently modified their holdings of VRCA. Bank of New York Mellon Corp raised its stake in shares of Verrica Pharmaceuticals by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 58,680 shares of the company’s stock worth $428,000 after acquiring an additional 4,393 shares in the last quarter. Rhumbline Advisers increased its position in shares of Verrica Pharmaceuticals by 20.4% during the second quarter. Rhumbline Advisers now owns 26,591 shares of the company’s stock worth $194,000 after purchasing an additional 4,514 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Verrica Pharmaceuticals during the 2nd quarter valued at $50,000. Vanguard Group Inc. boosted its position in shares of Verrica Pharmaceuticals by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 1,268,710 shares of the company’s stock worth $7,511,000 after purchasing an additional 7,609 shares in the last quarter. Finally, Key Financial Inc purchased a new position in 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.