Analysts Set Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) Price Target at $8.00

Verrica Pharmaceuticals Inc. (NASDAQ:VRCA - Get Free Report) has received a consensus recommendation of "Hold" from the five ratings firms that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $8.00.

A number of analysts have recently commented on the company. Needham & Company LLC reissued a "hold" rating on shares of Verrica Pharmaceuticals in a research 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.

Verrica Pharmaceuticals Trading Up 1.0%

Verrica Pharmaceuticals stock traded up $0.01 during trading hours on Friday, hitting $0.82. 480,236 shares of the stock traded hands, compared to its average volume of 630,688. The firm's 50-day moving average price is $0.61 and its two-hundred day moving average price is $0.61. The company has a market cap of $75.38 million, a PE ratio of -0.68 and a beta of 1.76. Verrica Pharmaceuticals has a one year low of $0.38 and a one year high of $8.98.

Verrica Pharmaceuticals (NASDAQ:VRCA - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.04. The company had revenue of $3.44 million during the quarter, compared to the consensus estimate of $2.53 million. On average, sell-side analysts expect that Verrica Pharmaceuticals will post -1.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verrica Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in Verrica Pharmaceuticals by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 477,269 shares of the company's stock valued at $334,000 after buying an additional 21,789 shares during the last quarter. Invesco Ltd. purchased a new stake in Verrica Pharmaceuticals during the 4th quarter valued at $32,000. Renaissance Technologies LLC raised its stake in Verrica Pharmaceuticals by 57.7% during the 4th quarter. Renaissance Technologies LLC now owns 233,300 shares of the company's stock valued at $163,000 after buying an additional 85,336 shares during the last quarter. Heights Capital Management Inc. purchased a new stake in Verrica Pharmaceuticals during the 4th quarter valued at $246,000. Finally, Boothbay Fund Management LLC purchased a new stake in Verrica Pharmaceuticals during the 4th quarter valued at $1,811,000. 42.45% of the stock is owned by institutional investors.

About Verrica Pharmaceuticals

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.