Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) Sees Large Decrease in Short Interest

Key Points

• The short interest in Verrica Pharmaceuticals (NASDAQ:VRCA) declined by 32.3% in July, with total short interest falling to 149,800 shares.
• Verrica Pharmaceuticals reported a surprising $0.02 earnings per share for the last quarter, exceeding the consensus estimate of ($0.70) by $0.72.
• The stock currently has a consensus rating of "Hold" from analysts, with an average price target of $80.00.

Verrica Pharmaceuticals Inc. (NASDAQ:VRCA - Get Free Report) was the recipient of a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 149,800 shares, adropof32.3% from the July 15th total of 221,200 shares. Currently,3.0% of the shares of the company are sold short. Based on an average daily volume of 47,300 shares, the days-to-cover ratio is presently 3.2 days. Based on an average daily volume of 47,300 shares, the days-to-cover ratio is presently 3.2 days. Currently,3.0% of the shares of the company are sold short.

Verrica Pharmaceuticals Stock Up 9.5%

NASDAQ:VRCA traded up $0.52 during mid-day trading on Monday, reaching $5.99. 165,778 shares of the company were exchanged, compared to its average volume of 45,396. Verrica Pharmaceuticals has a 12 month low of $3.82 and a 12 month high of $28.30. The company has a fifty day moving average of $6.60 and a 200 day moving average of $5.99. The stock has a market cap of $56.61 million, a PE ratio of -0.72 and a beta of 1.92.

Verrica Pharmaceuticals (NASDAQ:VRCA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.02 EPS for the quarter, topping 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. On average, equities research analysts anticipate that Verrica Pharmaceuticals will post -1.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Verrica Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its holdings in Verrica Pharmaceuticals by 306.7% during the 1st quarter. AQR Capital Management LLC now owns 58,711 shares of the company's stock worth $26,000 after acquiring an additional 44,275 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in Verrica Pharmaceuticals during the 2nd quarter worth about $28,000. Invesco Ltd. acquired a new stake in Verrica Pharmaceuticals in the fourth quarter worth about $32,000. Charles Schwab Investment Management Inc. increased its position in Verrica Pharmaceuticals by 127.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 99,505 shares of the company's stock worth $44,000 after purchasing an additional 55,852 shares during the period. Finally, Kovitz Investment Group Partners LLC acquired a new stake in Verrica Pharmaceuticals in the first quarter worth about $45,000. Institutional investors own 42.45% of the company's stock.

Analysts Set New Price Targets

VRCA has been the subject of a number of analyst reports. Needham & Company LLC reissued a "hold" rating on shares of Verrica Pharmaceuticals in a report on Wednesday, May 14th. Wall Street Zen raised Verrica Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $80.00.

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.