Verrica Pharmaceuticals (NASDAQ:VRCA) Price Target Cut to $10.00

Verrica Pharmaceuticals (NASDAQ:VRCA) had its price target decreased by TD Cowen from $15.00 to $10.00 in a research report released on Monday, Benzinga reports. TD Cowen currently has a buy rating on the stock.

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

Verrica Pharmaceuticals Trading Down 0.7 %

NASDAQ:VRCA opened at $1.50 on Monday. The business’s 50-day moving average is $1.89 and its two-hundred day moving average is $5.51. The company has a debt-to-equity ratio of 29.58, a current ratio of 2.36 and a quick ratio of 2.23. Verrica Pharmaceuticals has a 12 month low of $1.04 and a 12 month high of $11.41. The firm has a market capitalization of $64.01 million, a PE ratio of -0.80 and a beta of 1.45.

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

Hedge Funds Weigh In On Verrica Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. Quest Partners LLC bought a new stake in shares of Verrica Pharmaceuticals during the second quarter valued at approximately $50,000. Key Financial Inc bought a new stake in shares of Verrica Pharmaceuticals during the second quarter valued at approximately $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 valued at $194,000 after buying an additional 4,514 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Verrica Pharmaceuticals during the second quarter valued at approximately $332,000. Finally, Bank of New York Mellon Corp raised 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 buying an additional 4,393 shares during the last quarter. 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.