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

HC Wainwright cut shares of Verrica Pharmaceuticals (NASDAQ:VRCA) from a buy rating to a neutral rating in a report released on Wednesday, MarketBeat.com reports.

A number of other equities research analysts also recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Verrica Pharmaceuticals in a report on Tuesday. TD Cowen cut their price objective 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 cut Verrica Pharmaceuticals from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $11.00 to $2.00 in a report on Tuesday. Finally, Brookline Capital Management reaffirmed a “hold” rating on shares of Verrica Pharmaceuticals in a report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $9.60.

Verrica Pharmaceuticals Price Performance

Shares of NASDAQ:VRCA opened at $0.75 on Wednesday. The company has a current ratio of 2.36, a quick ratio of 2.23 and a debt-to-equity ratio of 29.58. The firm’s 50 day moving average is $1.64 and its two-hundred day moving average is $5.14. The firm has a market capitalization of $31.84 million, a P/E ratio of -0.41 and a beta of 1.45. Verrica Pharmaceuticals has a 52 week low of $0.74 and a 52 week high of $11.41.

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

Institutional Trading of Verrica Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Quest Partners LLC acquired a new position in Verrica Pharmaceuticals in the 2nd quarter valued at approximately $50,000. Key Financial Inc purchased a new position in shares of Verrica Pharmaceuticals during the 2nd quarter valued at $69,000. Rhumbline Advisers raised its holdings in shares of Verrica Pharmaceuticals by 20.4% during the second quarter. Rhumbline Advisers now owns 26,591 shares of the company’s stock worth $194,000 after acquiring an additional 4,514 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Verrica Pharmaceuticals during the second quarter valued at $332,000. Finally, Bank of New York Mellon Corp grew its stake in 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 in the last quarter. 42.45% of the stock is owned by hedge funds and other institutional investors.

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.