Verrica Pharmaceuticals (NASDAQ:VRCA) was upgraded by Zacks Investment Research from a "sell" rating to a "hold" rating in a report released on Saturday, Zacks.com reports.
According to Zacks, "Verrica Pharmaceuticals, Inc. operates as a clinical-stage medical dermatology company. It develops and manufactures pharmaceutical products for the treatment of skin diseases such as molluscum contagiosum and dermatology. Verrica Pharmaceuticals, Inc. is based in PA, United States. "
A number of other brokerages have also weighed in on VRCA. HC Wainwright lowered their price objective on Verrica Pharmaceuticals from $24.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday. Northland Securities began coverage on Verrica Pharmaceuticals in a research note on Wednesday, June 24th. They set an "outperform" rating and a $21.00 price target on the stock. Needham & Company LLC decreased their price target on Verrica Pharmaceuticals from $20.00 to $17.00 and set a "buy" rating on the stock in a research note on Tuesday. BidaskClub raised Verrica Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Tuesday, June 23rd. Finally, ValuEngine raised Verrica Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of "Buy" and an average price target of $16.75.
Shares of NASDAQ VRCA traded up $0.14 during midday trading on Friday, reaching $10.30. 111,091 shares of the company were exchanged, compared to its average volume of 99,240. The company has a current ratio of 27.45, a quick ratio of 27.45 and a debt-to-equity ratio of 0.61. Verrica Pharmaceuticals has a 1 year low of $6.79 and a 1 year high of $18.67. The stock has a fifty day simple moving average of $12.11 and a 200 day simple moving average of $12.67. The stock has a market cap of $265.89 million, a P/E ratio of -8.44 and a beta of 2.37.
Verrica Pharmaceuticals (NASDAQ:VRCA) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of ($0.38) by ($0.01). As a group, analysts forecast that Verrica Pharmaceuticals will post -1.92 earnings per share for the current year.
Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Verrica Pharmaceuticals by 0.3% during the 1st quarter. BlackRock Inc. now owns 729,149 shares of the company's stock worth $7,970,000 after purchasing an additional 1,884 shares during the last quarter. FMR LLC raised its position in shares of Verrica Pharmaceuticals by 1.6% during the 4th quarter. FMR LLC now owns 635,680 shares of the company's stock worth $10,101,000 after purchasing an additional 10,050 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its position in shares of Verrica Pharmaceuticals by 5.8% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 470,274 shares of the company's stock worth $5,140,000 after purchasing an additional 25,743 shares during the last quarter. State Street Corp raised its position in shares of Verrica Pharmaceuticals by 4.6% during the 1st quarter. State Street Corp now owns 234,801 shares of the company's stock worth $2,566,000 after purchasing an additional 10,277 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Verrica Pharmaceuticals by 10.3% during the 1st quarter. Geode Capital Management LLC now owns 180,065 shares of the company's stock worth $1,968,000 after purchasing an additional 16,830 shares during the last quarter. Hedge funds and other institutional investors own 34.45% of the company's stock.
Verrica Pharmaceuticals Company Profile
Verrica Pharmaceuticals Inc, a clinical stage medical dermatology company, develops and commercializes dermatological treatments in the United States. The company's lead product candidate include VP-102 that is in phase III clinical trial for the treatment of molluscum contagiosum; in phase II clinical trial for the treatment of common warts; and completed phase I clinical trial for the treatment of Genital warts.
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