Verrica Pharmaceuticals (VRCA) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Verrica Pharmaceuticals (NASDAQ:VRCA) from a hold rating to a sell rating in a report issued on Thursday.

According to Zacks, “Verrica Pharmaceuticals, Inc. operates as a clinical-stage medical dermatology company. It develops and manufactures pharmaceutical products for the treatment of skin diseases such as molluscum contagiosum and dermatology. Verrica Pharmaceuticals, Inc. is based in PA, United States. “

Shares of Verrica Pharmaceuticals stock traded up $0.06 on Thursday, reaching $10.31. 523 shares of the stock were exchanged, compared to its average volume of 40,487. Verrica Pharmaceuticals has a one year low of $10.12 and a one year high of $23.29.

Verrica Pharmaceuticals (NASDAQ:VRCA) last issued its quarterly earnings results on Wednesday, November 7th. The company reported ($0.27) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.03). On average, research analysts forecast that Verrica Pharmaceuticals will post -1.17 earnings per share for the current year.

In related news, Director Paul B. Manning acquired 70,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 13th. The stock was acquired at an average price of $14.15 per share, with a total value of $993,330.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Linda Palczuk acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, September 17th. The stock was bought at an average cost of $16.52 per share, with a total value of $41,300.00. The disclosure for this purchase can be found here.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Verrica Pharmaceuticals by 950.7% during the third quarter. Vanguard Group Inc. now owns 292,489 shares of the company’s stock worth $4,753,000 after buying an additional 264,651 shares during the period. Point72 Asset Management L.P. purchased a new position in Verrica Pharmaceuticals during the third quarter worth $1,463,000. Kornitzer Capital Management Inc. KS boosted its stake in Verrica Pharmaceuticals by 46.1% during the third quarter. Kornitzer Capital Management Inc. KS now owns 215,145 shares of the company’s stock worth $3,496,000 after buying an additional 67,910 shares during the period. BlackRock Inc. purchased a new position in Verrica Pharmaceuticals during the third quarter worth $4,145,000. Finally, Bank of New York Mellon Corp purchased a new position in Verrica Pharmaceuticals during the third quarter worth $195,000. 32.07% of the stock is owned by hedge funds and other institutional investors.

About Verrica Pharmaceuticals

Verrica Pharmaceuticals Inc develops and commercializes dermatological treatments in the United States. The company is advancing its lead product VP-102, a proprietary topical therapy, in various common skin indications, including Molluscum contagiosum and Verruca Vulgaris. It is also developing 2 Phase 3 trials in molluscum contagiosum under NCT03377803 and NCT03377790.

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