Verrica Pharmaceuticals’ (VRCA) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Verrica Pharmaceuticals (NASDAQ:VRCA) in a research report released on Wednesday,Benzinga reports.

Separately, HC Wainwright reissued a “neutral” rating on shares of Verrica Pharmaceuticals in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $9.50.

Verrica Pharmaceuticals Stock Performance

NASDAQ:VRCA opened at $0.48 on Wednesday. The stock has a market cap of $44.42 million, a price-to-earnings ratio of -0.26 and a beta of 1.68. The business’s 50-day simple moving average is $0.60 and its 200 day simple moving average is $0.86. Verrica Pharmaceuticals has a one year low of $0.38 and a one year high of $11.41.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Caligan Partners LP bought a new stake in Verrica Pharmaceuticals in the fourth quarter valued at $5,201,000. Boothbay Fund Management LLC acquired a new position in Verrica Pharmaceuticals during the 4th quarter valued at about $1,811,000. Sovran Advisors LLC bought a new position in Verrica Pharmaceuticals in the 4th quarter worth about $267,000. Heights Capital Management Inc. acquired a new stake in shares of Verrica Pharmaceuticals in the fourth quarter valued at approximately $246,000. Finally, Rhumbline Advisers increased its stake in shares of Verrica Pharmaceuticals by 975.2% in the fourth quarter. Rhumbline Advisers now owns 266,093 shares of the company’s stock valued at $186,000 after purchasing an additional 241,344 shares during the period. 42.45% of the stock is currently owned by institutional investors.

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.