Verrica Pharmaceuticals (NASDAQ:VRCA) Posts Earnings Results, Beats Expectations By $0.72 EPS

Key Points

• Verrica Pharmaceuticals reported a quarterly earnings per share of $0.02, exceeding expectations by $0.12 compared to the consensus estimate of ($0.10).
• The company's stock traded up 1.8% to $6.82, with a market capitalization of $63.09 million and a P/E ratio of -0.57.
• Recent analyst reports included a shift of Verrica from a "sell" rating to a "hold" rating by Wall Street Zen, with a consensus target price of $80.00.

Verrica Pharmaceuticals (NASDAQ:VRCA - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported $0.02 EPS for the quarter, beating analysts' consensus estimates of ($0.70) by $0.72, Zacks reports. The business had revenue of $12.70 million during the quarter, compared to analysts' expectations of $4.37 million.

Verrica Pharmaceuticals Stock Performance

Shares of VRCA opened at $6.82 on Wednesday. Verrica Pharmaceuticals has a one year low of $3.82 and a one year high of $58.20. The stock has a market capitalization of $63.09 million, a price-to-earnings ratio of -0.57 and a beta of 1.92. The stock has a 50 day moving average price of $6.65 and a 200 day moving average price of $6.05.

Analyst Ratings Changes

A number of analysts have recently commented on VRCA shares. Wall Street Zen upgraded Verrica Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Needham & Company LLC reiterated a "hold" rating on shares of Verrica Pharmaceuticals in a research report on Wednesday, May 14th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, Verrica Pharmaceuticals currently has a consensus rating of "Hold" and an average target price of $80.00.

Institutional Trading of Verrica Pharmaceuticals

Large investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in Verrica Pharmaceuticals by 347.5% during the fourth quarter. Bank of America Corp DE now owns 143,818 shares of the company's stock worth $101,000 after buying an additional 111,678 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Verrica Pharmaceuticals by 306.7% in 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. lifted its stake in shares of Verrica Pharmaceuticals by 64.8% in the 1st quarter. Invesco Ltd. now owns 74,388 shares of the company's stock valued at $33,000 after purchasing an additional 29,256 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Verrica Pharmaceuticals by 23.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 139,055 shares of the company's stock valued at $61,000 after purchasing an additional 26,308 shares during the last quarter. 42.45% of the stock is currently 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.