HC Wainwright Cuts Verrica Pharmaceuticals (NASDAQ:VRCA) Price Target to $18.00

Verrica Pharmaceuticals (NASDAQ:VRCA) had its price objective reduced by HC Wainwright from $24.00 to $18.00 in a research note published on Tuesday, BenzingaRatingsTable reports. HC Wainwright currently has a buy rating on the stock.

A number of other research firms have also recently weighed in on VRCA. Zacks Investment Research cut shares of Verrica Pharmaceuticals from a hold rating to a sell rating in a research note on Thursday, June 25th. Needham & Company LLC decreased 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 note on Tuesday. ValuEngine raised shares of Verrica Pharmaceuticals from a hold rating to a buy rating in a research note on Tuesday, March 17th. Northland Securities started coverage on shares of Verrica Pharmaceuticals in a research note on Wednesday, June 24th. They set an outperform rating and a $21.00 target price on the stock. Finally, BidaskClub raised shares of Verrica Pharmaceuticals from a sell rating to a hold rating in a research note on Tuesday, June 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $16.75.

NASDAQ VRCA opened at $10.16 on Tuesday. The firm’s fifty day moving average price is $12.10 and its two-hundred day moving average price is $12.72. The stock has a market cap of $284.22 million, a PE ratio of -8.33 and a beta of 2.37. Verrica Pharmaceuticals has a fifty-two week low of $6.79 and a fifty-two week high of $18.67. The company has a debt-to-equity ratio of 0.61, a quick ratio of 27.45 and a current ratio of 27.45.

Verrica Pharmaceuticals (NASDAQ:VRCA) last posted its 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). As a group, sell-side analysts predict that Verrica Pharmaceuticals will post -2.32 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Citigroup Inc. grew its stake in shares of Verrica Pharmaceuticals by 41.4% in the first quarter. Citigroup Inc. now owns 3,656 shares of the company’s stock worth $40,000 after purchasing an additional 1,071 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Verrica Pharmaceuticals by 54.2% in the first quarter. BNP Paribas Arbitrage SA now owns 4,017 shares of the company’s stock valued at $44,000 after buying an additional 1,412 shares during the period. Meeder Asset Management Inc. acquired a new position in Verrica Pharmaceuticals in the fourth quarter valued at $69,000. Alliancebernstein L.P. lifted its holdings in Verrica Pharmaceuticals by 32.7% in the first quarter. Alliancebernstein L.P. now owns 13,400 shares of the company’s stock valued at $146,000 after buying an additional 3,300 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in Verrica Pharmaceuticals in the first quarter valued at $167,000. 34.45% of the stock is currently owned by 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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