Short Interest in Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) Expands By 24.8%

Verrica Pharmaceuticals Inc. (NASDAQ:VRCA - Get Free Report) was the target of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 4,530,000 shares, a growth of 24.8% from the September 30th total of 3,630,000 shares. Based on an average daily volume of 964,300 shares, the short-interest ratio is currently 4.7 days. Currently, 17.4% of the shares of the company are short sold.

Verrica Pharmaceuticals Stock Performance

Shares of NASDAQ:VRCA traded up $0.05 on Monday, reaching $1.56. 430,317 shares of the company's stock were exchanged, compared to its average volume of 434,959. Verrica Pharmaceuticals has a twelve month low of $1.04 and a twelve month high of $11.41. The company has a fifty day moving average of $1.86 and a 200-day moving average of $5.44. The company has a market capitalization of $66.57 million, a price-to-earnings ratio of -0.83 and a beta of 1.45. The company has a current ratio of 2.36, a quick ratio of 2.23 and a debt-to-equity ratio of 29.58.

Verrica Pharmaceuticals (NASDAQ:VRCA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.43) by $0.06. The business had revenue of $5.18 million for the quarter, compared to the consensus estimate 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, research analysts predict that Verrica Pharmaceuticals will post -1.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VRCA has been the subject of several research analyst reports. Brookline Capital Management reiterated a "hold" rating on shares of Verrica Pharmaceuticals in a research note on Wednesday, October 2nd. Needham & Company LLC reiterated a "hold" rating and issued a $12.00 price objective on shares of Verrica Pharmaceuticals in a report on Thursday, October 3rd. TD Cowen cut their target price on shares of Verrica Pharmaceuticals from $15.00 to $10.00 and set a "buy" rating for the company in a research note on Monday, October 21st. Finally, Royal Bank of Canada decreased their price target on shares of Verrica Pharmaceuticals from $13.00 to $11.00 and set an "outperform" rating on the stock in a research note on Friday, October 4th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Verrica Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $11.40.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Quest Partners LLC acquired a new stake in Verrica Pharmaceuticals during the second quarter worth about $50,000. Key Financial Inc bought a new stake in shares of Verrica Pharmaceuticals during the 2nd quarter worth approximately $69,000. Rhumbline Advisers boosted its position in shares of Verrica Pharmaceuticals by 20.4% during the 2nd quarter. Rhumbline Advisers now owns 26,591 shares of the company's stock worth $194,000 after acquiring an additional 4,514 shares in the last quarter. Renaissance Technologies LLC bought a new position in Verrica Pharmaceuticals in the second quarter valued at approximately $332,000. Finally, Bank of New York Mellon Corp raised 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. Institutional investors own 42.45% of the company's stock.

Verrica Pharmaceuticals Company Profile

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.