Verrica Pharmaceuticals (NASDAQ:VRCA) Lowered to Neutral Rating by HC Wainwright

HC Wainwright lowered shares of Verrica Pharmaceuticals (NASDAQ:VRCA) from a buy rating to a neutral rating in a report issued on Wednesday, Marketbeat Ratings reports.

A number of other equities research analysts also recently issued reports on VRCA. Brookline Capital Management restated a “hold” rating on shares of Verrica Pharmaceuticals in a report on Wednesday, October 2nd. TD Cowen lowered their price target on Verrica Pharmaceuticals from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Royal Bank of Canada lowered Verrica Pharmaceuticals from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $11.00 to $2.00 in a research note on Tuesday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Verrica Pharmaceuticals in a report on Tuesday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.60.

Verrica Pharmaceuticals Stock Performance

NASDAQ:VRCA opened at $0.75 on Wednesday. The company has a debt-to-equity ratio of 29.58, a current ratio of 2.36 and a quick ratio of 2.23. The firm has a market cap of $31.84 million, a PE ratio of -0.41 and a beta of 1.45. The firm has a 50 day simple moving average of $1.64 and a 200-day simple moving average of $5.14. Verrica Pharmaceuticals has a 1-year low of $0.74 and a 1-year high of $11.41.

Verrica Pharmaceuticals (NASDAQ:VRCA) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.12). Verrica Pharmaceuticals had a negative net margin of 625.06% and a negative return on equity of 3,102.90%. The business had revenue of ($1.78) million during the quarter, compared to analyst estimates of $7.53 million. On average, equities analysts expect that Verrica Pharmaceuticals will post -1.5 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Verrica Pharmaceuticals by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 1,268,710 shares of the company’s stock valued at $7,511,000 after buying an additional 7,609 shares during the period. Simplify Asset Management Inc. acquired a new position in shares of Verrica Pharmaceuticals during the second quarter worth $2,041,000. Bank of New York Mellon Corp boosted its stake in shares of Verrica Pharmaceuticals by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 58,680 shares of the company’s stock valued at $428,000 after purchasing an additional 4,393 shares during the period. Renaissance Technologies LLC purchased a new stake in Verrica Pharmaceuticals during the 2nd quarter worth approximately $332,000. Finally, Rhumbline Advisers raised its position in shares of Verrica Pharmaceuticals by 20.4% in the 2nd quarter. Rhumbline Advisers now owns 26,591 shares of the company’s stock valued at $194,000 after purchasing an additional 4,514 shares in the last quarter. Institutional investors and hedge funds 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.