Kovitz Investment Group Partners LLC Buys New Position 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 stake in Verrica Pharmaceuticals Inc. (NASDAQ:VRCA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 101,125 shares of the company's stock, valued at approximately $45,000. Kovitz Investment Group Partners LLC owned 0.11% of Verrica Pharmaceuticals as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Invesco Ltd. acquired a new stake in shares of Verrica Pharmaceuticals during the fourth quarter worth $32,000. Charles Schwab Investment Management Inc. raised its position 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 worth $44,000 after purchasing an additional 55,852 shares during the period. Bank of America Corp DE raised its position in shares of Verrica Pharmaceuticals by 347.5% during the fourth quarter. Bank of America Corp DE now owns 143,818 shares of the company's stock worth $101,000 after purchasing an additional 111,678 shares during the period. Renaissance Technologies LLC raised its position in shares of Verrica Pharmaceuticals by 57.7% during the fourth quarter. Renaissance Technologies LLC now owns 233,300 shares of the company's stock worth $163,000 after purchasing an additional 85,336 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Verrica Pharmaceuticals by 4.8% during the fourth 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 period. Institutional investors and hedge funds own 42.45% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on VRCA. Needham & Company LLC reaffirmed a "hold" rating on shares of Verrica Pharmaceuticals in a research report on Wednesday, May 14th. Wall Street Zen raised Verrica Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Verrica Pharmaceuticals has a consensus rating of "Hold" and an average price target of $80.00.

Verrica Pharmaceuticals Stock Performance

Shares of NASDAQ VRCA traded up $0.04 during mid-day trading on Friday, reaching $5.59. 41,112 shares of the company traded hands, compared to its average volume of 44,096. The stock has a market cap of $52.83 million, a PE ratio of -0.68 and a beta of 1.92. The company's fifty day moving average is $6.58 and its two-hundred day moving average is $5.97. Verrica Pharmaceuticals Inc. has a fifty-two week low of $3.82 and a fifty-two week high of $25.20.

Verrica Pharmaceuticals (NASDAQ:VRCA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.02 EPS for the quarter, beating analysts' consensus estimates of ($0.70) by $0.72. The company had revenue of $12.70 million for the quarter, compared to analyst estimates of $4.37 million. Research analysts forecast 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.