Zacks: Verrica Pharmaceuticals Inc (NASDAQ:VRCA) Given $27.25 Consensus Target Price by Brokerages

Shares of Verrica Pharmaceuticals Inc (NASDAQ:VRCA) have received a consensus broker rating score of 1.00 (Strong Buy) from the four analysts that cover the company, Zacks Investment Research reports. Four research analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 1 year consensus price target 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 assigned Verrica Pharmaceuticals an industry rank of 58 out of 255 based on the ratings given to its competitors.

Several equities research analysts have recently issued reports on the stock. ValuEngine lowered shares of Verrica Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. HC Wainwright reissued a “buy” rating and issued a $24.00 price objective on shares of Verrica Pharmaceuticals in a research report on Wednesday, November 27th. Finally, Zacks Investment Research lowered shares of Verrica Pharmaceuticals from a “buy” rating to a “hold” rating and set a $17.00 price objective for the company. in a research report on Saturday, November 16th.

Shares of VRCA traded down $0.21 on Wednesday, hitting $13.98. 96,281 shares of the stock traded hands, compared to its average volume of 58,214. The firm 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 stock’s 50 day moving average is $14.80 and its two-hundred 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) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.03. On average, sell-side analysts expect that Verrica Pharmaceuticals will post -1.13 earnings per share for the current fiscal year.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Asymmetry Capital Management L.P. lifted its stake in Verrica Pharmaceuticals by 88.5% in the second quarter. Asymmetry Capital Management L.P. now owns 132,820 shares of the company’s stock valued at $1,543,000 after acquiring an additional 62,362 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Verrica Pharmaceuticals by 18.8% in the 2nd quarter. Bank of America Corp DE now owns 101,242 shares of the company’s stock valued at $1,176,000 after buying an additional 16,009 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Verrica Pharmaceuticals by 31.1% in the 2nd quarter. BlackRock Inc. now owns 634,441 shares of the company’s stock valued at $7,374,000 after buying an additional 150,679 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Verrica Pharmaceuticals by 659.2% in the 2nd quarter. Wells Fargo & Company MN now owns 22,525 shares of the company’s stock valued at $262,000 after buying an additional 19,558 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Verrica Pharmaceuticals by 48.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,608 shares of the company’s stock valued at $437,000 after buying an additional 12,198 shares during the last quarter. 35.96% of the stock is owned by institutional investors and hedge funds.

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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