Royal Bank of Canada Cuts Verrica Pharmaceuticals (NASDAQ:VRCA) Price Target to $11.00

Verrica Pharmaceuticals (NASDAQ:VRCA - Free Report) had its price objective cut by Royal Bank of Canada from $13.00 to $11.00 in a report published on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also weighed in on VRCA. Brookline Capital Management restated a hold rating on shares of Verrica Pharmaceuticals in a report on Wednesday. Needham & Company LLC reiterated a hold rating and set a $12.00 price target on shares of Verrica Pharmaceuticals in a report on Thursday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Verrica Pharmaceuticals currently has an average rating of Moderate Buy and an average price target of $11.75.

Verrica Pharmaceuticals Price Performance

Shares of NASDAQ VRCA traded down $0.14 during mid-day trading on Friday, reaching $1.31. 1,725,766 shares of the company were exchanged, compared to its average volume of 435,499. Verrica Pharmaceuticals has a 52 week low of $1.04 and a 52 week high of $11.41. The company's 50 day moving average price is $3.10 and its 200 day moving average price is $5.94. The stock has a market capitalization of $55.90 million, a PE ratio of -0.86 and a beta of 1.45. The company has a quick ratio of 2.23, a current ratio of 2.36 and a debt-to-equity ratio of 29.58.

Verrica Pharmaceuticals (NASDAQ:VRCA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.06. The firm had revenue of $5.18 million for the quarter, compared to analyst estimates of $4.70 million. Verrica Pharmaceuticals had a negative return on equity of 591.84% and a negative net margin of 625.06%. Sell-side analysts forecast that Verrica Pharmaceuticals will post -1.56 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Joe Bonaccorso sold 25,461 shares of Verrica Pharmaceuticals stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $7.06, for a total transaction of $179,754.66. Following the sale, the insider now owns 106,931 shares of the company's stock, valued at approximately $754,932.86. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Joe Bonaccorso sold 25,461 shares of Verrica Pharmaceuticals stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $7.06, for a total transaction of $179,754.66. Following the sale, the insider now directly owns 106,931 shares in the company, valued at $754,932.86. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ted White sold 32,469 shares of the company's stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $7.06, for a total value of $229,231.14. Following the completion of the sale, the chief executive officer now directly owns 250,121 shares in the company, valued at approximately $1,765,854.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 42.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Simplify Asset Management Inc. bought a new stake in shares of Verrica Pharmaceuticals in the 2nd quarter worth approximately $2,041,000. Perceptive Advisors LLC raised its stake in Verrica Pharmaceuticals by 40.9% during the fourth quarter. Perceptive Advisors LLC now owns 7,099,182 shares of the company's stock valued at $51,966,000 after buying an additional 2,060,199 shares during the last quarter. Avoro Capital Advisors LLC boosted its holdings in Verrica Pharmaceuticals by 35.4% in the fourth quarter. Avoro Capital Advisors LLC now owns 3,999,999 shares of the company's stock worth $29,280,000 after acquiring an additional 1,045,935 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Verrica Pharmaceuticals by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,268,710 shares of the company's stock worth $7,511,000 after acquiring an additional 7,609 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of Verrica Pharmaceuticals during the second quarter valued at $50,000. 42.45% of the stock is owned by hedge funds and other institutional investors.

About Verrica Pharmaceuticals

Verrica Pharmaceuticals Inc, a clinical-stage dermatology therapeutics company, develops medications for the treatment of skin diseases in the United States. Its product pipeline comprises YCANTH (VP-102), which is in phase III clinical trial for the treatment of common warts; and has completed phase II clinical trial for the treatment of external genital warts.