Verrica Pharmaceuticals (NASDAQ:VRCA) Price Target Cut to $10.00

Verrica Pharmaceuticals (NASDAQ:VRCA - Free Report) had its price target trimmed by TD Cowen from $15.00 to $10.00 in a report published on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also recently issued reports on VRCA. Royal Bank of Canada lowered their price objective on Verrica Pharmaceuticals from $13.00 to $11.00 and set an "outperform" rating on the stock in a research report on Friday, October 4th. Brookline Capital Management reaffirmed a "hold" rating on shares of Verrica Pharmaceuticals in a research report on Wednesday, October 2nd. Finally, Needham & Company LLC reissued a "hold" rating and set a $12.00 price target on shares of Verrica Pharmaceuticals in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Verrica Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $11.40.

Verrica Pharmaceuticals Stock Down 1.9 %

VRCA stock traded down $0.03 during midday trading on Monday, hitting $1.57. The company's stock had a trading volume of 343,266 shares, compared to its average volume of 437,217. The company has a market cap of $66.60 million, a PE ratio of -0.90 and a beta of 1.45. Verrica Pharmaceuticals has a 12 month low of $1.04 and a 12 month high of $11.41. The company has a current ratio of 2.36, a quick ratio of 2.23 and a debt-to-equity ratio of 29.58. The firm's 50-day moving average is $2.02 and its 200-day moving average is $5.60.

Verrica Pharmaceuticals (NASDAQ:VRCA - Get Free Report) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.06. The business had revenue of $5.18 million for the quarter, compared to analysts' expectations of $4.70 million. Verrica Pharmaceuticals had a negative return on equity of 591.84% and a negative net margin of 625.06%. On average, equities research analysts forecast that Verrica Pharmaceuticals will post -1.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verrica Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of VRCA. Quest Partners LLC purchased a new position in shares of Verrica Pharmaceuticals in the 2nd quarter worth $50,000. Key Financial Inc purchased a new position in Verrica Pharmaceuticals during the second quarter valued at $69,000. Rhumbline Advisers lifted its position in Verrica Pharmaceuticals by 20.4% during the second quarter. Rhumbline Advisers now owns 26,591 shares of the company's stock valued at $194,000 after purchasing an additional 4,514 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Verrica Pharmaceuticals during the second quarter valued at $332,000. Finally, Bank of New York Mellon Corp lifted its position in Verrica Pharmaceuticals by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 58,680 shares of the company's stock valued at $428,000 after purchasing an additional 4,393 shares in the last quarter. 42.45% of the stock is currently 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.