Armistice Capital LLC Sells 353,600 Shares of Verrica Pharmaceuticals Inc. $VRCA

Key Points

• Armistice Capital LLC reduced its stake in Verrica Pharmaceuticals by 4%, selling 353,600 shares and now owns 8,567,400 shares, valued at approximately $3.79 million.
• Verrica Pharmaceuticals reported an earnings per share (EPS) of $0.02 for the most recent quarter, significantly exceeding the consensus estimate of ($0.70), alongside revenue of $12.7 million.
• Investment ratings for Verrica range from a "buy" to a "hold," with a consensus rating of "hold" and a price target of $80.00 according to several research firms.

Armistice Capital LLC lowered its stake in shares of Verrica Pharmaceuticals Inc. (NASDAQ:VRCA - Free Report) by 4.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,567,400 shares of the company's stock after selling 353,600 shares during the quarter. Armistice Capital LLC owned about 9.27% of Verrica Pharmaceuticals worth $3,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Invesco Ltd. boosted its stake in Verrica Pharmaceuticals by 64.8% during the first quarter. Invesco Ltd. now owns 74,388 shares of the company's stock worth $33,000 after acquiring an additional 29,256 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in 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 acquiring an additional 55,852 shares in the last quarter. Renaissance Technologies LLC boosted its stake in 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 acquiring an additional 85,336 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new stake in Verrica Pharmaceuticals during the first quarter worth about $45,000. Finally, Bank of America Corp DE boosted its stake in 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 acquiring an additional 111,678 shares in the last quarter. Hedge funds and other institutional investors own 42.45% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wall Street Zen raised shares of Verrica Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Needham & Company LLC reiterated a "hold" rating on shares of Verrica Pharmaceuticals in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $80.00.

Verrica Pharmaceuticals Price Performance

Verrica Pharmaceuticals stock traded down $0.07 during midday trading on Thursday, reaching $5.16. 38,695 shares of the company traded hands, compared to its average volume of 42,872. The firm has a market capitalization of $48.74 million, a price-to-earnings ratio of -0.62 and a beta of 1.78. The business has a 50 day moving average of $6.55 and a two-hundred day moving average of $5.94. Verrica Pharmaceuticals Inc. has a 12 month low of $3.82 and a 12 month high of $23.20.

Verrica Pharmaceuticals (NASDAQ:VRCA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.02 earnings per share 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 the consensus estimate of $4.37 million. As a group, equities analysts forecast that Verrica Pharmaceuticals Inc. will post -1.46 EPS for the current year.

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.