Verrica Pharmaceuticals (NASDAQ:VRCA) Shares Gap Down - What's Next?

Key Points

• Verrica Pharmaceuticals shares gapped down from a previous close of $7.00 to open at $5.86, with the last traded price at $6.45.
• Analysts have generally rated Verrica Pharmaceuticals as a "hold," with an average target price of $8.00.
• The company reported better-than-expected quarterly earnings, with a loss of ($0.10) per share against estimates of ($0.14) and revenue of $3.44 million compared to the $2.53 million forecast.
• Institutional investors own 42.45% of the stock, with notable new stakes acquired by several hedge funds in the recent quarters.

Verrica Pharmaceuticals Inc. (NASDAQ:VRCA - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $7.00, but opened at $5.86. Verrica Pharmaceuticals shares last traded at $6.45, with a volume of 29,813 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently commented on VRCA shares. 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 reissued a "hold" rating on shares of Verrica Pharmaceuticals in a research note on Wednesday, May 14th. Finally, HC Wainwright reissued a "neutral" rating on shares of Verrica Pharmaceuticals in a research note on Tuesday, April 8th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $8.00.

Verrica Pharmaceuticals Price Performance

The stock has a market capitalization of $569.74 million, a P/E ratio of -5.10 and a beta of 1.76. The business's 50 day simple moving average is $0.66 and its 200-day simple moving average is $0.61.

Verrica Pharmaceuticals (NASDAQ:VRCA - Get Free Report) last announced its quarterly 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 firm had revenue of $3.44 million for the quarter, compared to the consensus estimate of $2.53 million. Research analysts anticipate that Verrica Pharmaceuticals Inc. will post -1.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verrica Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in VRCA. Caligan Partners LP bought a new stake in Verrica Pharmaceuticals in the 4th quarter valued at $5,201,000. Boothbay Fund Management LLC acquired a new stake in shares of Verrica Pharmaceuticals in the fourth quarter valued at about $1,811,000. Sovran Advisors LLC increased its position in shares of Verrica Pharmaceuticals by 91.3% in the second 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 during the last quarter. Geode Capital Management LLC increased its position in shares of Verrica Pharmaceuticals by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 477,269 shares of the company's stock valued at $334,000 after acquiring an additional 21,789 shares during the last quarter. Finally, Heights Capital Management Inc. acquired a new stake in shares of Verrica Pharmaceuticals in the fourth quarter valued at about $246,000. 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.

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