Verrica Pharmaceuticals (NASDAQ:VRCA) Stock Rating Reaffirmed by Needham & Company LLC

Verrica Pharmaceuticals (NASDAQ:VRCA)‘s stock had its “hold” rating reiterated by equities research analysts at Needham & Company LLC in a research note issued to investors on Thursday, Marketbeat Ratings reports. They presently have a $12.00 price objective on the stock.

Other equities analysts also recently issued research reports about the stock. Brookline Capital Management reaffirmed a “hold” rating on shares of Verrica Pharmaceuticals in a research note on Wednesday. Royal Bank of Canada dropped their price objective on shares of Verrica Pharmaceuticals from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $11.75.

Verrica Pharmaceuticals Stock Performance

NASDAQ:VRCA opened at $1.31 on Thursday. The company has a quick ratio of 2.23, a current ratio of 2.36 and a debt-to-equity ratio of 29.58. The company has a market cap of $55.90 million, a P/E ratio of -0.86 and a beta of 1.45. Verrica Pharmaceuticals has a fifty-two week low of $1.04 and a fifty-two week high of $11.41. The firm’s 50 day moving average is $3.10 and its two-hundred day moving average is $5.94.

Verrica Pharmaceuticals (NASDAQ:VRCA) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.06. The company had revenue of $5.18 million for the quarter, compared to the consensus estimate of $4.70 million. Verrica Pharmaceuticals had a negative net margin of 625.06% and a negative return on equity of 591.84%. Analysts expect that Verrica Pharmaceuticals will post -1.56 EPS for the current year.

Insider Activity at Verrica Pharmaceuticals

In related news, CEO Ted White sold 32,469 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $7.06, for a total transaction of $229,231.14. Following the completion of the sale, the chief executive officer now directly owns 250,121 shares of the company’s stock, valued at approximately $1,765,854.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Verrica Pharmaceuticals news, CEO Ted White sold 32,469 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $7.06, for a total transaction of $229,231.14. Following the completion of the transaction, the chief executive officer now directly owns 250,121 shares of the company’s stock, valued at $1,765,854.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joe Bonaccorso sold 25,461 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $7.06, for a total transaction of $179,754.66. Following the transaction, the insider now directly owns 106,931 shares of the company’s stock, valued at approximately $754,932.86. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 42.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its position in shares of Verrica Pharmaceuticals by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 58,680 shares of the company’s stock worth $428,000 after buying an additional 4,393 shares during the last quarter. Rhumbline Advisers lifted its position in 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 during the last quarter. Quest Partners LLC bought a new stake in Verrica Pharmaceuticals in the 2nd quarter valued at about $50,000. Vanguard Group Inc. lifted its position in Verrica Pharmaceuticals by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 1,268,710 shares of the company’s stock valued at $7,511,000 after purchasing an additional 7,609 shares during the last quarter. Finally, Key Financial Inc bought a new stake in shares of Verrica Pharmaceuticals during the 2nd quarter worth about $69,000. 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.