Verrica Pharmaceuticals (NASDAQ:VRCA) PT Lowered to $13.00 at Royal Bank of Canada

Verrica Pharmaceuticals (NASDAQ:VRCA) had its target price lowered by stock analysts at Royal Bank of Canada from $14.00 to $13.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 342.18% from the company’s current price.

A number of other brokerages have also issued reports on VRCA. Needham & Company LLC reduced their price target on Verrica Pharmaceuticals from $16.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday. HC Wainwright boosted their price target on Verrica Pharmaceuticals from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th.

Verrica Pharmaceuticals Stock Performance

VRCA traded down $0.18 during trading on Thursday, reaching $2.94. 1,186,689 shares of the company were exchanged, compared to its average volume of 239,987. The stock has a market cap of $124.71 million, a P/E ratio of -1.69 and a beta of 1.56. The firm has a 50 day moving average of $7.21 and a 200 day moving average of $6.75. The company has a current ratio of 3.17, a quick ratio of 3.04 and a debt-to-equity ratio of 29.58. Verrica Pharmaceuticals has a 52 week low of $2.85 and a 52 week high of $11.41.

Verrica Pharmaceuticals (NASDAQ:VRCA) last issued its quarterly earnings data on Monday, May 13th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.10. The firm had revenue of $3.83 million during the quarter, compared to the consensus estimate of $2.70 million. Verrica Pharmaceuticals had a negative return on equity of 229.26% and a negative net margin of 905.83%. On average, sell-side analysts forecast that Verrica Pharmaceuticals will post -1.57 EPS for the current fiscal year.

Insider Activity

In other news, insider Joe Bonaccorso sold 25,461 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 $179,754.66. Following the completion of the sale, the insider now owns 106,931 shares in the company, valued at $754,932.86. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Joe Bonaccorso sold 25,461 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 transaction of $179,754.66. Following the completion of the sale, the insider now directly owns 106,931 shares of the company’s stock, valued at $754,932.86. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ted White sold 32,469 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $7.06, for a total value of $229,231.14. Following the sale, the chief executive officer now directly owns 250,121 shares of the company’s stock, valued at $1,765,854.26. The disclosure for this sale can be found here. Insiders own 42.60% of the company’s stock.

Institutional Investors Weigh In On Verrica Pharmaceuticals

Several hedge funds have recently modified their holdings of VRCA. Perceptive Advisors LLC lifted its holdings in shares of 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 purchasing an additional 2,060,199 shares during the last quarter. Avoro Capital Advisors LLC raised its position in Verrica Pharmaceuticals by 35.4% during the fourth quarter. Avoro Capital Advisors LLC now owns 3,999,999 shares of the company’s stock valued at $29,280,000 after buying an additional 1,045,935 shares during the period. Simplify Asset Management Inc. acquired a new position in Verrica Pharmaceuticals during the second quarter valued at $2,041,000. Renaissance Technologies LLC acquired a new position in Verrica Pharmaceuticals during the second quarter valued at $332,000. Finally, BML Capital Management LLC raised its position in Verrica Pharmaceuticals by 20.0% during the fourth quarter. BML Capital Management LLC now owns 180,000 shares of the company’s stock valued at $1,318,000 after buying an additional 30,000 shares during the period. 42.45% of the stock is owned by hedge funds and other institutional investors.

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.