Verrica Pharmaceuticals (NASDAQ:VRCA) Stock Price Down 2% - What's Next?

Key Points

• Verrica Pharmaceuticals shares fell 2% to $3.35 in mid-day trading, with volume down 37% from its average. The stock remains below its 50-day and 200-day moving averages of $4.41 and $5.62, respectively.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and an average price target of $12.67. Price targets range from a $9.00 “Buy” rating by Lake Street Capital to a “Sell” rating from Weiss Ratings.
• Institutional investors own 42.45% of the company, while Renaissance Technologies increased its stake by 22.6% during the first quarter. Verrica’s lead product is YCANTHE, an FDA-approved topical treatment for molluscum contagiosum.

Shares of Verrica Pharmaceuticals Inc. (NASDAQ:VRCA - Get Free Report) traded down 2% during mid-day trading on Friday. The company traded as low as $3.25 and last traded at $3.35. Approximately 33,786 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 53,652 shares. The stock had previously closed at $3.42.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Lake Street Capital began coverage on Verrica Pharmaceuticals in a research note on Thursday, August 27th. They set a "buy" rating and a $9.00 price objective for the company. Weiss Ratings restated a "sell (e+)" rating on shares of Verrica Pharmaceuticals in a research note on Tuesday, October 13th. Finally, Wall Street Zen raised Verrica Pharmaceuticals from a "strong sell" rating to a "sell" rating in a report on Saturday, September 26th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Verrica Pharmaceuticals currently has a consensus rating of "Hold" and a consensus target price of $12.67.

Verrica Pharmaceuticals Trading Down 2.0%

The stock's 50 day simple moving average is $4.41 and its 200 day simple moving average is $5.62. The firm has a market cap of $57.55 million, a PE ratio of -2.01 and a beta of 1.60. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.33 and a current ratio of 1.45.

Institutional Trading of Verrica Pharmaceuticals

A hedge fund recently raised its position in Verrica Pharmaceuticals stock. Renaissance Technologies LLC increased its holdings in Verrica Pharmaceuticals Inc. (NASDAQ:VRCA - Free Report) by 22.6% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 32,360 shares of the company's stock after buying an additional 5,960 shares during the quarter. Renaissance Technologies LLC owned about 0.19% of Verrica Pharmaceuticals worth $171,000 at the end of the most recent reporting period. 42.45% of the stock is currently owned by hedge funds and other institutional investors.

About Verrica Pharmaceuticals

Verrica Pharmaceuticals Inc is a dermatology-focused biopharmaceutical company developing and commercializing therapies for skin diseases that have limited or inadequate treatment options. The company's activities center on prescription products designed for use by dermatologists and other healthcare professionals.

Verrica's lead commercial product is YCANTHE (cantharidin) topical solution, 0.7%, a prescription treatment approved by the U.S. Food and Drug Administration for molluscum contagiosum in adults and children two years of age and older.

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