Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) Stock Has Consensus Price Target of $12.67 According to Brokerages

Key Points

• Analyst consensus is “Hold” for Verrica Pharmaceuticals, with three buys, one hold and one sell among five analysts. The average 12-month price target is $12.67, well above the stock’s recent $3.21 opening price.
• VRCA shares have declined 4.2% and are trading near their 52-week low of $3.20, compared with a 52-week high of $9.82. The company’s market capitalization is approximately $55.15 million.
• Institutional investors own 42.45% of Verrica, while Renaissance Technologies increased its position by 22.6% in the first quarter. Verrica’s lead product is YCANTHE, an FDA-approved topical treatment for molluscum contagiosum.

Verrica Pharmaceuticals Inc. (NASDAQ:VRCA - Get Free Report) has been assigned an average rating of "Hold" from the five analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $12.67.

Several analysts recently issued reports on the stock. Lake Street Capital initiated coverage on shares of Verrica Pharmaceuticals in a research report on Thursday, August 27th. They issued a "buy" rating and a $9.00 price target for the company. Weiss Ratings restated a "sell (e+)" rating on shares of Verrica Pharmaceuticals in a research note on Tuesday, October 13th. Finally, Wall Street Zen upgraded shares of Verrica Pharmaceuticals from a "strong sell" rating to a "sell" rating in a report on Saturday, September 26th.

Verrica Pharmaceuticals Trading Down 4.2%

NASDAQ VRCA opened at $3.21 on Tuesday. The company has a market cap of $55.15 million, a price-to-earnings ratio of -1.92 and a beta of 1.60. Verrica Pharmaceuticals has a 52 week low of $3.20 and a 52 week high of $9.82. The business has a 50 day moving average price of $4.37 and a 200-day moving average price of $5.60. The company has a quick ratio of 1.33, a current ratio of 1.45 and a debt-to-equity ratio of 0.18.

Institutional Investors Weigh In On Verrica Pharmaceuticals

A hedge fund recently raised its position in Verrica Pharmaceuticals stock. Renaissance Technologies LLC boosted its holdings in Verrica Pharmaceuticals Inc. (NASDAQ:VRCA - Free Report) by 22.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,360 shares of the company's stock after acquiring an additional 5,960 shares during the quarter. Renaissance Technologies LLC owned 0.19% of Verrica Pharmaceuticals worth $171,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 42.45% of the company's stock.

About Verrica Pharmaceuticals

Verrica Pharmaceuticals Inc is a dermatology-focused biopharmaceutical company developing and commercializing therapies for skin diseases that have limited or inadequate treatment options. The company's activities center on prescription products designed for use by dermatologists and other healthcare professionals.

Verrica's lead commercial product is YCANTHE (cantharidin) topical solution, 0.7%, a prescription treatment approved by the U.S. Food and Drug Administration for molluscum contagiosum in adults and children two years of age and older.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.