Verrica Pharmaceuticals (NASDAQ:VRCA) Earns “Hold” Rating from Needham & Company LLC

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

Verrica Pharmaceuticals Stock Performance

Verrica Pharmaceuticals stock opened at $0.59 on Wednesday. The business’s 50-day simple moving average is $0.68 and its two-hundred day simple moving average is $1.11. The company has a market cap of $26.95 million, a PE ratio of -0.32 and a beta of 1.44. Verrica Pharmaceuticals has a fifty-two week low of $0.54 and a fifty-two week high of $11.41.

Verrica Pharmaceuticals (NASDAQ:VRCA) last posted its quarterly earnings results on Tuesday, March 11th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.01. Verrica Pharmaceuticals had a negative return on equity of 591.84% and a negative net margin of 625.06%. The business had revenue of $0.34 million for the quarter, compared to the consensus estimate of $1.30 million. As a group, analysts predict that Verrica Pharmaceuticals will post -1.46 EPS for the current fiscal year.

Institutional Trading of Verrica Pharmaceuticals

A number of hedge funds have recently modified their holdings of the stock. Caligan Partners LP purchased a new stake in shares of Verrica Pharmaceuticals in the fourth quarter worth about $5,201,000. Boothbay Fund Management LLC purchased a new stake in shares of Verrica Pharmaceuticals in the fourth quarter worth about $1,811,000. State Street Corp boosted its stake in shares of Verrica Pharmaceuticals by 13.5% in the third quarter. State Street Corp now owns 512,821 shares of the company’s stock worth $744,000 after buying an additional 61,041 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Verrica Pharmaceuticals by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 477,269 shares of the company’s stock worth $334,000 after buying an additional 21,789 shares during the last quarter. Finally, Sovran Advisors LLC purchased a new stake in shares of Verrica Pharmaceuticals in the fourth quarter worth about $267,000. 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.