Brokers Set Expectations for Verrica Pharmaceuticals Inc.’s FY2021 Earnings (NASDAQ:VRCA)

Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) – Analysts at Jefferies Financial Group lifted their FY2021 earnings per share estimates for Verrica Pharmaceuticals in a report released on Monday, January 10th. Jefferies Financial Group analyst D. Steinberg now anticipates that the company will post earnings per share of ($1.41) for the year, up from their prior estimate of ($1.54). Jefferies Financial Group currently has a “Buy” rating and a $20.00 target price on the stock. Jefferies Financial Group also issued estimates for Verrica Pharmaceuticals’ Q4 2021 earnings at ($0.46) EPS, FY2022 earnings at ($2.48) EPS, FY2023 earnings at ($1.59) EPS, FY2024 earnings at ($0.44) EPS and FY2025 earnings at $0.72 EPS.

A number of other brokerages have also recently commented on VRCA. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 target price on shares of Verrica Pharmaceuticals in a report on Tuesday, November 30th. Zacks Investment Research lowered shares of Verrica Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, October 13th. Needham & Company LLC lowered their price target on shares of Verrica Pharmaceuticals from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, September 21st. Finally, Royal Bank of Canada reissued a “buy” rating and set a $16.00 price objective on shares of Verrica Pharmaceuticals in a research note on Tuesday, November 23rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $18.00.

Shares of VRCA opened at $8.32 on Thursday. Verrica Pharmaceuticals has a 1-year low of $8.15 and a 1-year high of $18.42. The stock has a market cap of $228.96 million, a PE ratio of -5.70 and a beta of 2.04. The firm has a fifty day moving average price of $10.14 and a 200 day moving average price of $11.06.

Verrica Pharmaceuticals (NASDAQ:VRCA) last posted its quarterly earnings results on Friday, November 12th. The company reported ($0.47) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.51) by $0.04.

In related news, Director Paul B. Manning purchased 30,023 shares of the company’s stock in a transaction on Thursday, December 2nd. The shares were bought at an average cost of $9.45 per share, for a total transaction of $283,717.35. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 40.20% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in VRCA. Geode Capital Management LLC grew its position in Verrica Pharmaceuticals by 6.9% during the second quarter. Geode Capital Management LLC now owns 212,980 shares of the company’s stock valued at $2,406,000 after purchasing an additional 13,822 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in Verrica Pharmaceuticals during the second quarter worth $243,000. Nisa Investment Advisors LLC bought a new position in Verrica Pharmaceuticals during the second quarter worth $51,000. Marshall Wace LLP bought a new position in Verrica Pharmaceuticals during the second quarter worth $355,000. Finally, Millennium Management LLC increased its position in Verrica Pharmaceuticals by 856.2% during the second quarter. Millennium Management LLC now owns 319,552 shares of the company’s stock worth $3,611,000 after acquiring an additional 286,134 shares during the period. 33.33% of the stock is currently owned by institutional investors and hedge funds.

Verrica Pharmaceuticals Company Profile

Verrica Pharmaceuticals, Inc engages in identifying, developing, and commercializing pharmaceutical products for the treatment of skin diseases. Its lead product candidate VP-102, is a proprietary topical therapy used in common skin indications including molluscum contagiosum and verruca vulgaris. The company was founded by Matthew Davidson on July 3, 2013 and is headquartered in West Chester, PA.

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