Verrica Pharmaceuticals (NASDAQ:VRCA) Upgraded by ValuEngine to “Buy”

ValuEngine upgraded shares of Verrica Pharmaceuticals (NASDAQ:VRCA) from a hold rating to a buy rating in a report issued on Tuesday, ValuEngine reports.

Several other equities research analysts also recently commented on the stock. Northland Securities started coverage on shares of Verrica Pharmaceuticals in a research report on Wednesday, June 24th. They set an outperform rating and a $21.00 target price on the stock. HC Wainwright cut their target price on shares of Verrica Pharmaceuticals from $24.00 to $18.00 and set a buy rating on the stock in a research report on Tuesday. BidaskClub upgraded shares of Verrica Pharmaceuticals from a sell rating to a hold rating in a research report on Tuesday, June 23rd. Zacks Investment Research downgraded shares of Verrica Pharmaceuticals from a hold rating to a sell rating in a research report on Thursday, June 25th. Finally, Needham & Company LLC cut their target price on shares of Verrica Pharmaceuticals from $20.00 to $17.00 and set a buy rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Verrica Pharmaceuticals has an average rating of Buy and a consensus target price of $16.75.

VRCA opened at $14.07 on Tuesday. The company’s 50 day moving average is $12.05 and its 200-day moving average is $12.74. Verrica Pharmaceuticals has a 1-year low of $6.79 and a 1-year high of $18.67. The company has a current ratio of 27.45, a quick ratio of 27.45 and a debt-to-equity ratio of 0.61. The company has a market cap of $366.31 million, a P/E ratio of -11.53 and a beta of 2.39.

Verrica Pharmaceuticals (NASDAQ:VRCA) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.01). On average, equities analysts forecast that Verrica Pharmaceuticals will post -2.32 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its holdings in Verrica Pharmaceuticals by 4.6% during the 1st quarter. State Street Corp now owns 234,801 shares of the company’s stock worth $2,566,000 after purchasing an additional 10,277 shares during the last quarter. Geode Capital Management LLC raised its holdings in Verrica Pharmaceuticals by 10.3% during the 1st quarter. Geode Capital Management LLC now owns 180,065 shares of the company’s stock worth $1,968,000 after purchasing an additional 16,830 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Verrica Pharmaceuticals by 32.7% during the 1st quarter. Alliancebernstein L.P. now owns 13,400 shares of the company’s stock worth $146,000 after purchasing an additional 3,300 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in Verrica Pharmaceuticals by 8.9% during the 1st quarter. Nuveen Asset Management LLC now owns 50,373 shares of the company’s stock worth $550,000 after purchasing an additional 4,108 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in Verrica Pharmaceuticals by 54.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,017 shares of the company’s stock worth $44,000 after purchasing an additional 1,412 shares during the last quarter. Hedge funds and other institutional investors own 34.45% of the company’s stock.

Verrica Pharmaceuticals Company Profile

Verrica Pharmaceuticals Inc, a clinical stage medical dermatology company, develops and commercializes dermatological treatments in the United States. The company's lead product candidate include VP-102 that is in phase III clinical trial for the treatment of molluscum contagiosum; in phase II clinical trial for the treatment of common warts; and completed phase I clinical trial for the treatment of Genital warts.

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