Analysts Set Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) Target Price at $11.75

Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) has been given an average recommendation of “Moderate Buy” by the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $11.40.

A number of research analysts have recently issued reports on VRCA shares. TD Cowen reduced 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 report on Monday. Royal Bank of Canada lowered their target price on Verrica Pharmaceuticals from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Brookline Capital Management reaffirmed a “hold” rating on shares of Verrica Pharmaceuticals in a research note on Wednesday, October 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating and issued a $12.00 target price on shares of Verrica Pharmaceuticals in a research report on Thursday, October 3rd.

Verrica Pharmaceuticals Trading Down 5.0 %

NASDAQ:VRCA opened at $1.51 on Monday. 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 company has a market capitalization of $64.05 million, a PE ratio of -0.86 and a beta of 1.45. The stock’s 50 day moving average price is $1.92 and its 200 day moving average price is $5.53. Verrica Pharmaceuticals has a 52-week low of $1.04 and a 52-week high of $11.41.

Verrica Pharmaceuticals (NASDAQ:VRCA) last posted its earnings results on Wednesday, August 14th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.06. The company had revenue of $5.18 million for the quarter, compared to the consensus estimate of $4.70 million. Verrica Pharmaceuticals had a negative return on equity of 591.84% and a negative net margin of 625.06%. On average, research analysts anticipate that Verrica Pharmaceuticals will post -1.58 EPS for the current year.

Hedge Funds Weigh In On Verrica Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Verrica Pharmaceuticals by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,268,710 shares of the company’s stock valued at $7,511,000 after purchasing an additional 7,609 shares during the last quarter. Bank of New York Mellon Corp increased its position 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 valued at $428,000 after purchasing an additional 4,393 shares during the last quarter. Key Financial Inc bought a new position in shares of Verrica Pharmaceuticals during the 2nd quarter valued at $69,000. Rhumbline Advisers lifted its stake in shares of Verrica Pharmaceuticals by 20.4% in the 2nd quarter. Rhumbline Advisers now owns 26,591 shares of the company’s stock valued at $194,000 after acquiring an additional 4,514 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in Verrica Pharmaceuticals in the second quarter valued at approximately $50,000. Institutional investors and hedge funds 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.