Zacks Investment Research upgraded shares of Verrica Pharmaceuticals (NASDAQ:VRCA – Get Rating) from a hold rating to a buy rating in a research report released on Friday morning, Zacks.com reports. They currently have $6.25 target price on the stock.
According to Zacks, “Verrica Pharmaceuticals, Inc. operates as a clinical-stage medical dermatology company. It develops and manufactures pharmaceutical products for the treatment of skin diseases such as molluscum contagiosum and dermatology. Verrica Pharmaceuticals, Inc. is based in PA, United States. “
Several other brokerages have also recently commented on VRCA. HC Wainwright reiterated a buy rating on shares of Verrica Pharmaceuticals in a research report on Monday, March 7th. Brookline Capital Management restated a buy rating on shares of Verrica Pharmaceuticals in a report on Thursday, March 10th. Brookline Capital Acquisition assumed coverage on shares of Verrica Pharmaceuticals in a report on Thursday, March 10th. They set a buy rating and a $20.00 price objective for the company. Finally, Needham & Company LLC decreased their price objective on shares of Verrica Pharmaceuticals from $20.00 to $18.00 and set a buy rating for the company in a report on Thursday, March 3rd. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Verrica Pharmaceuticals has an average rating of Buy and a consensus price target of $16.89.
Shares of NASDAQ:VRCA traded up $0.24 during trading on Friday, hitting $5.66. 142,345 shares of the company’s stock were exchanged, compared to its average volume of 134,772. Verrica Pharmaceuticals has a 1-year low of $5.20 and a 1-year high of $14.79. The firm has a 50-day moving average price of $7.60 and a two-hundred day moving average price of $8.83.
Verrica Pharmaceuticals (NASDAQ:VRCA – Get Rating) last issued its quarterly earnings results on Wednesday, March 2nd. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.13. Equities research analysts anticipate that Verrica Pharmaceuticals will post -2.04 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Verrica Pharmaceuticals by 45.7% in the first quarter. Dimensional Fund Advisors LP now owns 32,817 shares of the company’s stock valued at $266,000 after buying an additional 10,288 shares during the period. Truist Financial Corp acquired a new position in shares of Verrica Pharmaceuticals in the first quarter valued at approximately $92,000. Barclays PLC boosted its holdings in shares of Verrica Pharmaceuticals by 197.0% in the fourth quarter. Barclays PLC now owns 15,896 shares of the company’s stock valued at $146,000 after buying an additional 10,544 shares during the period. BlackRock Inc. boosted its holdings in shares of Verrica Pharmaceuticals by 23.1% in the fourth quarter. BlackRock Inc. now owns 794,466 shares of the company’s stock valued at $7,278,000 after buying an additional 149,248 shares during the period. Finally, Millennium Management LLC lifted its position in shares of Verrica Pharmaceuticals by 466.6% in the fourth quarter. Millennium Management LLC now owns 94,220 shares of the company’s stock worth $863,000 after purchasing an additional 77,590 shares in the last quarter. Institutional investors own 34.58% of the company’s stock.
About Verrica Pharmaceuticals (Get Rating)
Verrica Pharmaceuticals Inc, a dermatology therapeutics company, develops and commercializes treatments for people with skin diseases in the United States. The company’s lead product candidate includes VP-102 for the treatment of molluscum contagiosum; that has completed Phase II clinical trial for the treatment of external genital warts; and which is in Phase II clinical trial for treating common warts.
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