Wall Street Zen Upgrades Verrica Pharmaceuticals (NASDAQ:VRCA) to "Hold"

Verrica Pharmaceuticals (NASDAQ:VRCA - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Thursday.

Other equities analysts also recently issued reports about the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Verrica Pharmaceuticals in a report on Wednesday, May 14th. HC Wainwright reaffirmed a "neutral" rating on shares of Verrica Pharmaceuticals in a report on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Verrica Pharmaceuticals presently has an average rating of "Hold" and an average target price of $8.00.

Verrica Pharmaceuticals Price Performance

Shares of VRCA stock traded down $0.02 during trading hours on Thursday, reaching $0.62. 24,885 shares of the stock were exchanged, compared to its average volume of 579,431. The business's fifty day moving average is $0.51 and its two-hundred day moving average is $0.68. Verrica Pharmaceuticals has a 12-month low of $0.38 and a 12-month high of $9.40. The firm has a market capitalization of $56.97 million, a P/E ratio of -0.34 and a beta of 1.73.

Verrica Pharmaceuticals (NASDAQ:VRCA - Get Free Report) last released 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. Verrica Pharmaceuticals had a negative net margin of 625.06% and a negative return on equity of 591.84%. The firm had revenue of $3.44 million for the quarter, compared to analyst estimates of $2.53 million. As a group, equities research analysts predict that Verrica Pharmaceuticals will post -1.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verrica Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VRCA. Caligan Partners LP acquired a new position in Verrica Pharmaceuticals in the fourth quarter valued at approximately $5,201,000. Boothbay Fund Management LLC acquired a new stake in shares of Verrica Pharmaceuticals in the fourth quarter valued at approximately $1,811,000. Sovran Advisors LLC acquired a new stake in shares of Verrica Pharmaceuticals in the fourth quarter valued at approximately $267,000. Heights Capital Management Inc. acquired a new stake in shares of Verrica Pharmaceuticals in the fourth quarter valued at approximately $246,000. Finally, Rhumbline Advisers boosted its holdings in shares of Verrica Pharmaceuticals by 975.2% in the fourth quarter. Rhumbline Advisers now owns 266,093 shares of the company's stock valued at $186,000 after acquiring an additional 241,344 shares during the period. 42.45% of the stock is owned by institutional investors and hedge funds.

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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