Verrica Pharmaceuticals (NASDAQ:VRCA) Cut to “Neutral” at HC Wainwright

HC Wainwright cut shares of Verrica Pharmaceuticals (NASDAQ:VRCA) from a buy rating to a neutral rating in a report published on Wednesday, MarketBeat reports.

Several other research firms also recently issued reports on VRCA. TD Cowen dropped their price target on shares of Verrica Pharmaceuticals from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Royal Bank of Canada cut Verrica Pharmaceuticals from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $11.00 to $2.00 in a research note on Tuesday, November 5th. Brookline Capital Management restated a “hold” rating on shares of Verrica Pharmaceuticals in a research note on Wednesday, October 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Verrica Pharmaceuticals in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $9.60.

Verrica Pharmaceuticals Trading Up 17.8 %

Shares of VRCA opened at $0.83 on Wednesday. The company has a debt-to-equity ratio of 29.58, a current ratio of 1.34 and a quick ratio of 2.23. Verrica Pharmaceuticals has a 12 month low of $0.70 and a 12 month high of $11.41. The stock has a market cap of $37.84 million, a PE ratio of -0.45 and a beta of 1.45. The stock’s 50-day moving average is $1.58 and its two-hundred day moving average is $5.05.

Verrica Pharmaceuticals (NASDAQ:VRCA) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.12). The company 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%. Equities analysts forecast that Verrica Pharmaceuticals will post -1.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of VRCA. Quest Partners LLC bought a new stake in shares of Verrica Pharmaceuticals during the second quarter valued at approximately $50,000. Key Financial Inc acquired a new position in Verrica Pharmaceuticals during the 2nd quarter worth $69,000. Rhumbline Advisers grew its stake in shares of Verrica Pharmaceuticals by 20.4% in 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. Renaissance Technologies LLC acquired a new position in shares of Verrica Pharmaceuticals during the second quarter valued at $332,000. Finally, Bank of New York Mellon Corp raised 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 in the last quarter. Institutional investors own 42.45% of the company’s stock.

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.