Verrica Pharmaceuticals Inc (NASDAQ:VRCA) Receives $21.67 Average Target Price from Brokerages

Verrica Pharmaceuticals Inc (NASDAQ:VRCA) has been assigned an average rating of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $21.67.

A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Verrica Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Verrica Pharmaceuticals in a research report on Thursday, April 16th. BidaskClub upgraded Verrica Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine raised Verrica Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, March 17th. Finally, Northland Securities assumed coverage on Verrica Pharmaceuticals in a report on Wednesday. They set an “outperform” rating and a $21.00 price objective for the company.

Shares of NASDAQ VRCA opened at $14.19 on Wednesday. The company has a current ratio of 27.45, a quick ratio of 27.45 and a debt-to-equity ratio of 0.61. Verrica Pharmaceuticals has a fifty-two week low of $6.79 and a fifty-two week high of $18.67. The stock has a fifty day moving average of $11.80 and a 200-day moving average of $12.72.

Verrica Pharmaceuticals (NASDAQ:VRCA) last issued its earnings results on Thursday, May 7th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.01). As a group, sell-side analysts forecast that Verrica Pharmaceuticals will post -2.35 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the company. Kornitzer Capital Management Inc. KS lifted its stake in shares of Verrica Pharmaceuticals by 5.8% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 470,274 shares of the company’s stock valued at $5,140,000 after acquiring an additional 25,743 shares during the last quarter. Geode Capital Management LLC increased its stake in Verrica Pharmaceuticals by 13.6% in the 4th quarter. Geode Capital Management LLC now owns 163,235 shares of the company’s stock worth $2,593,000 after purchasing an additional 19,510 shares during the period. State Street Corp lifted its position in Verrica Pharmaceuticals by 7.7% in the fourth quarter. State Street Corp now owns 224,524 shares of the company’s stock valued at $3,568,000 after purchasing an additional 16,098 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Verrica Pharmaceuticals in the first quarter worth approximately $167,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Verrica Pharmaceuticals in the fourth quarter worth $221,000. 34.45% of the stock is currently owned by hedge funds and other institutional investors.

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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