Short Interest in Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) Rises By 1,164.0%

Key Points

• Short interest in Verrica Pharmaceuticals has surged by 1,164.0%, increasing from 17,500 shares on June 30th to 221,200 shares by July 15th.
• Several institutional investors have significantly increased their stakes in Verrica Pharmaceuticals, with AQR Capital Management raising its position by 306.7% in the first quarter.
• The stock is currently rated as a "Hold" by five investment analysts, with a consensus target price of $80.00, despite having a recent earnings miss with an EPS of ($1.00).

Verrica Pharmaceuticals Inc. (NASDAQ:VRCA - Get Free Report) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 221,200 shares, agrowthof1,164.0% from the June 30th total of 17,500 shares. Based on an average daily volume of 42,800 shares, the days-to-cover ratio is currently 5.2 days. Based on an average daily volume of 42,800 shares, the days-to-cover ratio is currently 5.2 days.

Institutional Investors Weigh In On Verrica Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its position in shares of Verrica Pharmaceuticals by 306.7% during the 1st quarter. AQR Capital Management LLC now owns 58,711 shares of the company's stock valued at $26,000 after purchasing an additional 44,275 shares during the last quarter. Invesco Ltd. bought a new stake in Verrica Pharmaceuticals during the fourth quarter valued at approximately $32,000. Charles Schwab Investment Management Inc. increased its holdings in Verrica Pharmaceuticals by 127.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 99,505 shares of the company's stock valued at $44,000 after buying an additional 55,852 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new position in Verrica Pharmaceuticals in the first quarter worth approximately $45,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Verrica Pharmaceuticals by 23.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 139,055 shares of the company's stock worth $61,000 after acquiring an additional 26,308 shares during the last quarter. Hedge funds and other institutional investors own 42.45% of the company's stock.

Analyst Upgrades and Downgrades

VRCA has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Verrica Pharmaceuticals in a report on Wednesday, May 14th. HC Wainwright reissued a "neutral" rating on shares of Verrica Pharmaceuticals in a research report on Tuesday, April 8th. Finally, Wall Street Zen raised Verrica Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $80.00.

Verrica Pharmaceuticals Stock Performance

NASDAQ VRCA opened at $5.64 on Friday. Verrica Pharmaceuticals has a one year low of $3.82 and a one year high of $62.10. The stock has a 50-day moving average of $6.55 and a 200 day moving average of $6.09. The company has a market capitalization of $52.17 million, a price-to-earnings ratio of -0.47 and a beta of 1.92.

Verrica Pharmaceuticals (NASDAQ:VRCA - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($1.00) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.40) by $0.40. The company had revenue of $3.44 million for the quarter, compared to analysts' expectations of $2.53 million. On average, equities analysts predict that Verrica Pharmaceuticals will post -1.46 earnings per share for the current fiscal year.

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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