Short Interest in Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) Declines By 32.3%

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 large 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. Based on an average trading 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. Currently,3.0% of the shares of the company are sold short. Based on an average trading volume of 47,300 shares, the days-to-cover ratio is presently 3.2 days.

Verrica Pharmaceuticals Stock Performance

Shares of NASDAQ:VRCA opened at $6.05 on Wednesday. Verrica Pharmaceuticals has a one year low of $3.82 and a one year high of $30.19. The stock has a fifty day moving average of $6.67 and a 200-day moving average of $6.02. The company has a market capitalization of $57.17 million, a PE ratio of -0.73 and a beta of 1.92.

Verrica Pharmaceuticals (NASDAQ:VRCA - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.72. The firm had revenue of $12.70 million during the quarter, compared to analysts' expectations of $4.37 million. As a group, research analysts forecast that Verrica Pharmaceuticals will post -1.46 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on VRCA. Wall Street Zen raised shares of Verrica Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Verrica Pharmaceuticals in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $80.00.

Institutional Investors Weigh In On Verrica Pharmaceuticals

Several hedge funds have recently bought and sold shares of the business. Armistice Capital LLC lifted its stake in Verrica Pharmaceuticals by 3.7% in the 2nd quarter. Armistice Capital LLC now owns 8,881,344 shares of the company's stock worth $4,708,000 after acquiring an additional 313,944 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of Verrica Pharmaceuticals during the 2nd quarter valued at $28,000. Marshall Wace LLP purchased a new position in shares of Verrica Pharmaceuticals during the 2nd quarter valued at $66,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Verrica Pharmaceuticals during the 2nd quarter valued at $99,000. Finally, Sovran Advisors LLC grew its holdings in shares of Verrica Pharmaceuticals by 91.3% during the 2nd quarter. Sovran Advisors LLC now owns 750,391 shares of the company's stock valued at $398,000 after acquiring an additional 358,228 shares in the last quarter. 42.45% of the stock is owned by hedge funds and other institutional investors.

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.

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