Log in

Verrica Pharmaceuticals (NASDAQ:VRCA) Upgraded by Zacks Investment Research to Hold

Last updated on Saturday, July 4th, 2020 by MarketBeat

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.

Further Reading: How is the discount rate different from the Federal Funds rate?

Get a free copy of the Zacks research report on Verrica Pharmaceuticals (VRCA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

7 Best Stocks to Own Right Now

Today, we are inviting you to view our list of the seven best stocks to own for the next thirty days.

Why is it worth looking into these stocks? Some of Wall Street's most respected and most accurate research analysts have been upgrading these stocks and raising their price targets for these companies.

No, we're not talking recommendations from some no-name blogger or a junior analyst from a brokerage you've never heard of. These stocks have received multiple positive recommendations in the last 30 days from analysts that have received four star and five star rankings from MarketBeat's proprietary brokerage ranking system.

Analysts given four star and five star ratings from MarketBeat consistently issue accurate price targets and their buy recommendations often outperform the market by double digits. Buy recommendations from our current top-rated brokerage, National Securities, have gone up by an average of 47.5% in the 12 months after they were issued.

We've reviewed every research report published by these top-rated analysts in the last 90 days and have identified seven stocks that these analysts are poised for an immediate breakout.

View the "7 Best Stocks to Own Right Now".

30 Days of MarketBeat All Access for $1.00

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

  • Best-in-Class Portfolio Monitoring

    View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

  • Stock Ideas and Recommendations

    Get daily stock ideas top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

  • Advanced Stock Screeners and Research Tools

    Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.

Start Your Risk-Free Trial Subscription Here

Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.