Verrica Pharmaceuticals (NASDAQ:VRCA) Price Target Lowered to $10.00 at TD Cowen

Verrica Pharmaceuticals (NASDAQ:VRCA) had its target price lowered by stock analysts at TD Cowen from $15.00 to $10.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock.

Several other analysts have also weighed in on VRCA. Royal Bank of Canada lowered their price objective on Verrica Pharmaceuticals from $13.00 to $11.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Needham & Company LLC reissued a “hold” rating and set a $12.00 price target on shares of Verrica Pharmaceuticals in a research report on Thursday, October 3rd. Finally, Brookline Capital Management restated a “hold” rating on shares of Verrica Pharmaceuticals in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Verrica Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $11.40.

Verrica Pharmaceuticals Stock Down 5.0 %

VRCA stock traded down $0.08 during midday trading on Monday, hitting $1.52. 146,894 shares of the company’s stock were exchanged, compared to its average volume of 436,249. The firm has a 50 day moving average price of $2.09 and a 200-day moving average price of $5.63. Verrica Pharmaceuticals has a 12-month low of $1.04 and a 12-month high of $11.41. The stock has a market capitalization of $64.46 million, a price-to-earnings ratio of -0.87 and a beta of 1.45. The company has a current ratio of 2.36, a quick ratio of 2.23 and a debt-to-equity ratio of 29.58.

Verrica Pharmaceuticals (NASDAQ:VRCA) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.06. The company had revenue of $5.18 million during the quarter, compared to analyst estimates of $4.70 million. Verrica Pharmaceuticals had a negative net margin of 625.06% and a negative return on equity of 591.84%. On average, analysts anticipate that Verrica Pharmaceuticals will post -1.58 EPS for the current year.

Institutional Trading of Verrica Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in VRCA. Vanguard Group Inc. grew its stake in 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. Bank of New York Mellon Corp boosted its holdings in shares of Verrica Pharmaceuticals by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 58,680 shares of the company’s stock valued at $428,000 after acquiring an additional 4,393 shares during the period. Key Financial Inc bought a new position in shares of Verrica Pharmaceuticals during the second quarter worth about $69,000. Rhumbline Advisers increased its holdings in shares of Verrica Pharmaceuticals by 20.4% in the 2nd quarter. Rhumbline Advisers now owns 26,591 shares of the company’s stock worth $194,000 after acquiring an additional 4,514 shares during the period. Finally, Quest Partners LLC acquired a new stake in shares of Verrica Pharmaceuticals in the 2nd quarter worth about $50,000. 42.45% of the stock is currently owned by institutional investors and hedge funds.

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.