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

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

Other equities research analysts have also issued research reports about the company. TD Cowen reduced their target price on Verrica Pharmaceuticals from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Brookline Capital Management restated a “hold” rating on shares of Verrica Pharmaceuticals in a research report on Wednesday, October 2nd. Royal Bank of Canada cut 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 report on Tuesday, November 5th. Finally, HC Wainwright lowered shares of Verrica Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Verrica Pharmaceuticals has an average rating of “Hold” and an average price target of $9.50.

Verrica Pharmaceuticals Stock Up 2.6 %

VRCA opened at $0.69 on Friday. Verrica Pharmaceuticals has a one year low of $0.61 and a one year high of $11.41. The company has a market cap of $31.66 million, a price-to-earnings ratio of -0.38 and a beta of 1.40. The business’s fifty day moving average is $1.11 and its two-hundred day moving average is $3.59. The company has a debt-to-equity ratio of 29.58, a quick ratio of 1.22 and a current ratio of 1.34.

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 analyst estimates of $7.53 million. Verrica Pharmaceuticals had a negative net margin of 625.06% and a negative return on equity of 591.84%. Analysts anticipate that Verrica Pharmaceuticals will post -1.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Verrica Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC grew its holdings in Verrica Pharmaceuticals by 404.6% in the 3rd quarter. Barclays PLC now owns 31,341 shares of the company’s stock valued at $45,000 after buying an additional 25,130 shares during the period. Quest Partners LLC purchased a new stake in Verrica Pharmaceuticals in the second quarter valued at approximately $50,000. Key Financial Inc purchased a new stake in Verrica Pharmaceuticals in the second quarter valued at approximately $69,000. Sanctuary Advisors LLC acquired a new position in Verrica Pharmaceuticals during the third quarter worth approximately $87,000. Finally, Verition Fund Management LLC purchased a new position in Verrica Pharmaceuticals during the third quarter worth approximately $89,000. Hedge funds and other institutional investors own 42.45% of the company’s stock.

About Verrica Pharmaceuticals

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.