Verrica Pharmaceuticals (NASDAQ:VRCA) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Verrica Pharmaceuticals (NASDAQ:VRCA) in a research note issued to investors on Wednesday,Benzinga reports.

Separately, HC Wainwright reaffirmed a “neutral” rating on shares of Verrica Pharmaceuticals in a report on Tuesday, April 8th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $8.00.

Verrica Pharmaceuticals Stock Down 2.7%

Shares of VRCA stock opened at $0.54 on Wednesday. The company has a 50 day moving average price of $0.51 and a 200-day moving average price of $0.71. Verrica Pharmaceuticals has a 52 week low of $0.38 and a 52 week high of $9.95. The firm has a market capitalization of $49.49 million, a PE ratio of -0.29 and a beta of 1.73.

Verrica Pharmaceuticals (NASDAQ:VRCA) last issued its earnings results on Tuesday, May 13th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.04. The company had revenue of $3.44 million for the quarter, compared to analysts’ expectations of $2.53 million. Verrica Pharmaceuticals had a negative net margin of 625.06% and a negative return on equity of 591.84%. Analysts anticipate that Verrica Pharmaceuticals will post -1.46 earnings per share for the current year.

Institutional Trading of Verrica Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Barclays PLC increased its stake in shares of Verrica Pharmaceuticals by 404.6% in the 3rd quarter. Barclays PLC now owns 31,341 shares of the company’s stock worth $45,000 after purchasing an additional 25,130 shares in the last quarter. Invesco Ltd. bought a new stake in Verrica Pharmaceuticals during the fourth quarter valued at about $32,000. Jane Street Group LLC grew its holdings in Verrica Pharmaceuticals by 106.5% during the third quarter. Jane Street Group LLC now owns 69,872 shares of the company’s stock valued at $101,000 after purchasing an additional 36,028 shares during the period. Charles Schwab Investment Management Inc. increased its position in Verrica Pharmaceuticals by 127.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 99,505 shares of the company’s stock worth $44,000 after buying an additional 55,852 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new position in shares of Verrica Pharmaceuticals in the first quarter worth about $45,000. 42.45% of the stock is currently owned by institutional investors.

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.