Verrica Pharmaceuticals (NASDAQ:VRCA) Receives "Buy" Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Verrica Pharmaceuticals (NASDAQ:VRCA - Free Report) in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a $8.00 target price on the stock.

VRCA has been the subject of a number of other reports. Jefferies Financial Group reaffirmed a buy rating and issued a $10.00 target price on shares of Verrica Pharmaceuticals in a research note on Friday, December 15th. HC Wainwright upped their price objective on Verrica Pharmaceuticals from $12.00 to $13.00 and gave the stock a buy rating in a research report on Friday, March 1st.

Verrica Pharmaceuticals Stock Up 2.0 %

Shares of NASDAQ VRCA traded up $0.14 during mid-day trading on Wednesday, reaching $7.19. 192,521 shares of the company's stock were exchanged, compared to its average volume of 159,076. Verrica Pharmaceuticals has a twelve month low of $2.86 and a twelve month high of $7.76. The company has a current ratio of 4.55, a quick ratio of 4.49 and a debt-to-equity ratio of 2.22. The firm has a market capitalization of $305.00 million, a price-to-earnings ratio of -4.92 and a beta of 1.88. The business has a fifty day simple moving average of $5.48 and a 200 day simple moving average of $4.91.

Verrica Pharmaceuticals (NASDAQ:VRCA - Get Free Report) last announced its earnings results on Thursday, February 29th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.01). The company had revenue of $1.99 million for the quarter, compared to analyst estimates of $1.10 million. Verrica Pharmaceuticals had a negative return on equity of 119.46% and a negative net margin of 1,307.47%. As a group, equities analysts expect that Verrica Pharmaceuticals will post -1.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Verrica Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC grew its holdings in shares of Verrica Pharmaceuticals by 685.2% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 9,422 shares of the company's stock valued at $28,000 after acquiring an additional 8,222 shares in the last quarter. BNP Paribas Arbitrage SNC boosted its position in Verrica Pharmaceuticals by 879.2% during the second quarter. BNP Paribas Arbitrage SNC now owns 6,110 shares of the company's stock valued at $35,000 after purchasing an additional 5,486 shares during the last quarter. Two Sigma Advisers LP bought a new position in Verrica Pharmaceuticals in the third quarter valued at approximately $37,000. California State Teachers Retirement System acquired a new position in shares of Verrica Pharmaceuticals during the 2nd quarter worth approximately $40,000. Finally, Virtu Financial LLC bought a new stake in shares of Verrica Pharmaceuticals during the 2nd quarter worth approximately $47,000. 42.45% of the stock is currently owned by institutional investors and hedge funds.

Verrica Pharmaceuticals Company 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.