Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) Given Consensus Rating of “Moderate Buy” by Brokerages

Verrica Pharmaceuticals Inc. (NASDAQ:VRCA – Get Rating) has earned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $14.00.

A number of research analysts recently issued reports on the company. Brookline Capital Acquisition assumed coverage on Verrica Pharmaceuticals in a research note on Thursday, March 10th. They set a “buy” rating and a $20.00 price target on the stock. Royal Bank of Canada downgraded Verrica Pharmaceuticals from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $16.00 to $4.00 in a research note on Wednesday, May 25th. Brookline Capital Management restated a “buy” rating on shares of Verrica Pharmaceuticals in a research note on Thursday, March 10th. Needham & Company LLC downgraded Verrica Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, May 25th. Finally, HC Wainwright dropped their price target on Verrica Pharmaceuticals from $20.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, May 31st.

VRCA opened at $2.08 on Thursday. Verrica Pharmaceuticals has a one year low of $1.77 and a one year high of $14.79. The company has a market cap of $57.24 million, a P/E ratio of -1.33 and a beta of 2.01. The business’s 50-day simple moving average is $4.69 and its 200-day simple moving average is $7.20.

A number of institutional investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its position in Verrica Pharmaceuticals by 96.4% during the 1st quarter. Bank of America Corp DE now owns 55,889 shares of the company’s stock worth $454,000 after acquiring an additional 27,438 shares during the period. Goldman Sachs Group Inc. acquired a new stake in Verrica Pharmaceuticals during the 1st quarter worth approximately $88,000. State Street Corp lifted its position in Verrica Pharmaceuticals by 2.0% during the 1st quarter. State Street Corp now owns 231,035 shares of the company’s stock worth $1,874,000 after acquiring an additional 4,619 shares during the period. Dimensional Fund Advisors LP lifted its position in Verrica Pharmaceuticals by 45.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 32,817 shares of the company’s stock worth $266,000 after acquiring an additional 10,288 shares during the period. Finally, Truist Financial Corp acquired a new stake in Verrica Pharmaceuticals during the 1st quarter worth approximately $92,000. 34.58% of the stock is owned by institutional investors.

About Verrica Pharmaceuticals (Get Rating)

Verrica Pharmaceuticals Inc, a dermatology therapeutics company, develops and commercializes treatments for people with skin diseases in the United States. The company's lead product candidate includes VP-102 for the treatment of molluscum contagiosum; that has completed Phase II clinical trial for the treatment of external genital warts; and which is in Phase II clinical trial for treating common warts.

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