HC Wainwright Reaffirms Neutral Rating for Verrica Pharmaceuticals (NASDAQ:VRCA)

Verrica Pharmaceuticals (NASDAQ:VRCA)‘s stock had its “neutral” rating reissued by research analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports.

Separately, Needham & Company LLC reissued a “hold” rating on shares of Verrica Pharmaceuticals in a research note on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.50.

Verrica Pharmaceuticals Stock Up 21.8 %

Shares of VRCA stock opened at $0.65 on Tuesday. Verrica Pharmaceuticals has a fifty-two week low of $0.38 and a fifty-two week high of $11.41. The stock has a 50-day simple moving average of $0.62 and a 200 day simple moving average of $0.90. The stock has a market capitalization of $59.23 million, a P/E ratio of -0.35 and a beta of 1.68.

Verrica Pharmaceuticals (NASDAQ:VRCA) last announced its earnings results on Tuesday, March 11th. The company reported ($0.24) EPS 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 during the quarter, compared to the consensus estimate of $1.30 million. On average, sell-side analysts anticipate that Verrica Pharmaceuticals will post -1.46 earnings per share for the current year.

Hedge Funds Weigh In On Verrica Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Caligan Partners LP bought a new position in shares of Verrica Pharmaceuticals during the 4th quarter worth about $5,201,000. Boothbay Fund Management LLC bought a new position in Verrica Pharmaceuticals during the fourth quarter valued at about $1,811,000. State Street Corp raised its holdings in Verrica Pharmaceuticals by 13.5% in the 3rd quarter. State Street Corp now owns 512,821 shares of the company’s stock valued at $744,000 after acquiring an additional 61,041 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Verrica Pharmaceuticals by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 477,269 shares of the company’s stock worth $334,000 after acquiring an additional 21,789 shares during the period. Finally, Sovran Advisors LLC acquired a new stake in shares of Verrica Pharmaceuticals during the 4th quarter worth approximately $267,000. 42.45% of the stock is currently owned by institutional investors and hedge funds.

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.