Brokerages Set $27.25 Target Price for Verrica Pharmaceuticals Inc (NASDAQ:VRCA)

Verrica Pharmaceuticals Inc (NASDAQ:VRCA) has been given an average broker rating score of 1.00 (Strong Buy) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. Four equities research analysts have rated the stock with a strong buy recommendation.

Brokers have set a 12 month consensus price objective of $27.25 for the company and are anticipating that the company will post ($0.30) earnings per share for the current quarter, according to Zacks. Zacks has also given Verrica Pharmaceuticals an industry rank of 58 out of 255 based on the ratings given to related companies.

Several brokerages have issued reports on VRCA. HC Wainwright reaffirmed a “buy” rating and set a $24.00 price target on shares of Verrica Pharmaceuticals in a report on Wednesday, November 27th. ValuEngine downgraded Verrica Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Finally, Zacks Investment Research downgraded Verrica Pharmaceuticals from a “buy” rating to a “hold” rating and set a $17.00 price target for the company. in a report on Saturday, November 16th.

In other news, Director Paul B. Manning acquired 20,886 shares of the stock in a transaction on Thursday, October 10th. The shares were purchased at an average price of $15.08 per share, for a total transaction of $314,960.88. Also, major shareholder Matt Davidson sold 19,314 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $10.89, for a total value of $210,329.46. 40.20% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers increased its position in shares of Verrica Pharmaceuticals by 5.6% in the third quarter. Rhumbline Advisers now owns 16,918 shares of the company’s stock worth $250,000 after purchasing an additional 898 shares during the period. JPMorgan Chase & Co. grew its position in Verrica Pharmaceuticals by 35.5% in the second quarter. JPMorgan Chase & Co. now owns 3,541 shares of the company’s stock valued at $34,000 after acquiring an additional 927 shares during the last quarter. Northern Trust Corp grew its position in Verrica Pharmaceuticals by 3.8% in the second quarter. Northern Trust Corp now owns 111,261 shares of the company’s stock valued at $1,293,000 after acquiring an additional 4,049 shares during the last quarter. Bank of New York Mellon Corp grew its position in Verrica Pharmaceuticals by 48.0% in the second quarter. Bank of New York Mellon Corp now owns 37,608 shares of the company’s stock valued at $437,000 after acquiring an additional 12,198 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Verrica Pharmaceuticals by 18.8% in the second quarter. Bank of America Corp DE now owns 101,242 shares of the company’s stock valued at $1,176,000 after acquiring an additional 16,009 shares during the last quarter. Institutional investors own 35.96% of the company’s stock.

Shares of NASDAQ VRCA traded down $0.21 during trading hours on Wednesday, hitting $13.98. The company had a trading volume of 96,281 shares, compared to its average volume of 58,214. The stock has a market capitalization of $388.43 million, a P/E ratio of -9.91 and a beta of 4.13. Verrica Pharmaceuticals has a 1-year low of $6.44 and a 1-year high of $18.67. The firm’s 50 day moving average is $14.80 and its 200-day moving average is $11.73.

Verrica Pharmaceuticals (NASDAQ:VRCA) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.03. Equities research analysts expect that Verrica Pharmaceuticals will post -1.13 EPS for the current year.

About Verrica Pharmaceuticals

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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