Kovitz Investment Group Partners LLC Invests $45,000 in Verrica Pharmaceuticals Inc. $VRCA

Key Points

• Kovitz Investment Group Partners LLC acquired 101,125 shares of Verrica Pharmaceuticals Inc. for approximately $45,000, representing 0.11% ownership of the company as per their latest SEC filing.
• Verrica Pharmaceuticals reported earnings of $0.02 per share for the latest quarter, significantly exceeding analysts' estimates of -$0.70, with revenue reaching $12.70 million compared to the expected $4.37 million.
• Several institutional investors have recently increased their stakes in Verrica, including Bank of America Corp DE, which raised its holdings by 347.5% in the last quarter.

Kovitz Investment Group Partners LLC acquired a new position in Verrica Pharmaceuticals Inc. (NASDAQ:VRCA - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 101,125 shares of the company's stock, valued at approximately $45,000. Kovitz Investment Group Partners LLC owned approximately 0.11% of Verrica Pharmaceuticals as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in VRCA. Invesco Ltd. purchased a new stake in shares of Verrica Pharmaceuticals in the 4th quarter worth about $32,000. Charles Schwab Investment Management Inc. boosted its position in shares of Verrica Pharmaceuticals by 127.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 99,505 shares of the company's stock worth $44,000 after buying an additional 55,852 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Verrica Pharmaceuticals by 347.5% in the 4th quarter. Bank of America Corp DE now owns 143,818 shares of the company's stock worth $101,000 after buying an additional 111,678 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Verrica Pharmaceuticals by 57.7% in the 4th quarter. Renaissance Technologies LLC now owns 233,300 shares of the company's stock worth $163,000 after buying an additional 85,336 shares in the last quarter. Finally, Geode Capital Management LLC boosted 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 buying an additional 21,789 shares in the last quarter. 42.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VRCA has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Verrica Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Needham & Company LLC restated a "hold" rating on shares of Verrica Pharmaceuticals in a report on Wednesday, May 14th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $80.00.

Verrica Pharmaceuticals Stock Down 2.7%

Shares of VRCA stock traded down $0.15 during trading hours on Thursday, hitting $5.51. 13,365 shares of the company were exchanged, compared to its average volume of 43,023. The firm has a market cap of $52.07 million, a PE ratio of -0.67 and a beta of 1.92. Verrica Pharmaceuticals Inc. has a 1 year low of $3.82 and a 1 year high of $25.20. The firm has a fifty day moving average of $6.59 and a 200 day moving average of $5.99.

Verrica Pharmaceuticals (NASDAQ:VRCA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.72. The company had revenue of $12.70 million for the quarter, compared to analysts' expectations of $4.37 million. Analysts expect that Verrica Pharmaceuticals Inc. will post -1.46 earnings per share for the current year.

Verrica Pharmaceuticals Profile

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.