Verrica Pharmaceuticals (NASDAQ:VRCA) Shares Down 4.9% - Should You Sell?

Verrica Pharmaceuticals Inc. (NASDAQ:VRCA - Get Free Report) was down 4.9% during mid-day trading on Wednesday . The company traded as low as $0.77 and last traded at $0.82. Approximately 1,352,031 shares were traded during mid-day trading, an increase of 116% from the average daily volume of 626,560 shares. The stock had previously closed at $0.86.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on VRCA shares. Needham & Company LLC reissued a "hold" rating on shares of Verrica Pharmaceuticals in a research note on Wednesday, May 14th. HC Wainwright reissued a "neutral" rating on shares of Verrica Pharmaceuticals in a research note on Tuesday, April 8th. Finally, Wall Street Zen raised shares of Verrica Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $8.00.

Verrica Pharmaceuticals Price Performance

The stock's 50-day moving average is $0.61 and its two-hundred day moving average is $0.61. The stock has a market cap of $74.60 million, a P/E ratio of -0.67 and a beta of 1.76.

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

Hedge Funds Weigh In On Verrica Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. bought a new position in Verrica Pharmaceuticals during the fourth quarter valued at $32,000. AQR Capital Management LLC lifted its position in Verrica Pharmaceuticals by 306.7% during the first 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. Charles Schwab Investment Management Inc. lifted its position 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 purchasing an additional 55,852 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new position in Verrica Pharmaceuticals during the first quarter valued at $45,000. Finally, Goldman Sachs Group Inc. lifted its position in Verrica Pharmaceuticals by 23.3% during the first 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. Institutional investors own 42.45% of the company's stock.

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.