Propel Bio Management LLC Has $500,000 Stock Position in Verrica Pharmaceuticals Inc. (NASDAQ:VRCA)

Propel Bio Management LLC lessened its holdings in shares of Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) by 18.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 344,937 shares of the company’s stock after selling 80,000 shares during the quarter. Verrica Pharmaceuticals makes up approximately 0.3% of Propel Bio Management LLC’s investment portfolio, making the stock its 19th largest position. Propel Bio Management LLC owned approximately 0.76% of Verrica Pharmaceuticals worth $500,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in shares of Verrica Pharmaceuticals by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 58,680 shares of the company’s stock worth $428,000 after acquiring an additional 4,393 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Verrica Pharmaceuticals by 20.4% in the second quarter. Rhumbline Advisers now owns 26,591 shares of the company’s stock valued at $194,000 after purchasing an additional 4,514 shares during the last quarter. Quest Partners LLC bought a new position in shares of Verrica Pharmaceuticals in the second quarter valued at about $50,000. Vanguard Group Inc. lifted its stake 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 worth $7,511,000 after buying an additional 7,609 shares during the last quarter. Finally, Key Financial Inc acquired a new stake in shares of Verrica Pharmaceuticals during the 2nd quarter worth about $69,000. Institutional investors own 42.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Royal Bank of Canada downgraded Verrica Pharmaceuticals from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $11.00 to $2.00 in a research report on Tuesday, November 5th. HC Wainwright lowered shares of Verrica Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Wednesday, November 6th. Needham & Company LLC reiterated a “hold” rating on shares of Verrica Pharmaceuticals in a research report on Tuesday, November 5th. TD Cowen lowered their price objective on shares of Verrica Pharmaceuticals from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Finally, Brookline Capital Management reaffirmed a “hold” rating on shares of Verrica Pharmaceuticals in a report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Verrica Pharmaceuticals has an average rating of “Hold” and a consensus price target of $9.60.

Verrica Pharmaceuticals Price Performance

VRCA stock opened at $0.99 on Tuesday. The stock’s 50 day simple moving average is $1.35 and its 200 day simple moving average is $4.61. The company has a market cap of $45.19 million, a P/E ratio of -0.54 and a beta of 1.45. The company has a debt-to-equity ratio of 29.58, a quick ratio of 1.22 and a current ratio of 1.34. Verrica Pharmaceuticals Inc. has a fifty-two week low of $0.70 and a fifty-two week high of $11.41.

Verrica Pharmaceuticals (NASDAQ:VRCA) last issued its earnings results on Monday, November 4th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.12). Verrica Pharmaceuticals had a negative return on equity of 591.84% and a negative net margin of 625.06%. The firm had revenue of ($1.78) million for the quarter, compared to analyst estimates of $7.53 million. On average, research analysts expect that Verrica Pharmaceuticals Inc. will post -1.42 earnings per share for the current fiscal year.

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.