Verrica Pharmaceuticals (NASDAQ:VRCA) Receives Hold Rating from Needham & Company LLC

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

Separately, HC Wainwright reissued a “neutral” rating on shares of Verrica Pharmaceuticals in a research report on Tuesday, April 8th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $8.00.

Verrica Pharmaceuticals Stock Performance

Shares of NASDAQ:VRCA opened at $0.54 on Wednesday. The firm has a market capitalization of $49.49 million, a P/E ratio of -0.29 and a beta of 1.73. The stock has a 50 day moving average price of $0.51 and a 200-day moving average price of $0.71. Verrica Pharmaceuticals has a 52-week low of $0.38 and a 52-week high of $9.95.

Verrica Pharmaceuticals (NASDAQ:VRCA) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.04. The company had revenue of $3.44 million for the quarter, compared to analysts’ expectations of $2.53 million. Verrica Pharmaceuticals had a negative return on equity of 591.84% and a negative net margin of 625.06%. On average, equities analysts forecast that Verrica Pharmaceuticals will post -1.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Verrica Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised 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 purchasing an additional 21,789 shares during the last quarter. Barclays PLC increased its stake in Verrica Pharmaceuticals by 404.6% during the 3rd quarter. Barclays PLC now owns 31,341 shares of the company’s stock valued at $45,000 after purchasing an additional 25,130 shares in the last quarter. Invesco Ltd. raised its holdings in Verrica Pharmaceuticals by 64.8% in the first quarter. Invesco Ltd. now owns 74,388 shares of the company’s stock worth $33,000 after buying an additional 29,256 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Verrica Pharmaceuticals by 106.5% in the third quarter. Jane Street Group LLC now owns 69,872 shares of the company’s stock worth $101,000 after buying an additional 36,028 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Verrica Pharmaceuticals by 127.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 99,505 shares of the company’s stock valued at $44,000 after buying an additional 55,852 shares during the last quarter. 42.45% of the stock is 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.