Royal Bank of Canada Downgrades Verrica Pharmaceuticals (NASDAQ:VRCA) to Sector Perform

Royal Bank of Canada lowered shares of Verrica Pharmaceuticals (NASDAQ:VRCAGet Rating) from an outperform rating to a sector perform rating in a research report released on Wednesday, MarketBeat reports. They currently have $4.00 price target on the stock, down from their previous price target of $16.00.

Other analysts have also issued research reports about the company. Brookline Capital Acquisition initiated coverage on Verrica Pharmaceuticals in a research note on Thursday, March 10th. They set a buy rating and a $20.00 price objective on the stock. Needham & Company LLC cut their price objective on Verrica Pharmaceuticals from $20.00 to $18.00 and set a buy rating on the stock in a report on Thursday, March 3rd. HC Wainwright reiterated a buy rating on shares of Verrica Pharmaceuticals in a research note on Monday, March 7th. Brookline Capital Management restated a buy rating on shares of Verrica Pharmaceuticals in a research note on Thursday, March 10th. Finally, Zacks Investment Research upgraded Verrica Pharmaceuticals from a hold rating to a buy rating and set a $6.25 price objective for the company in a research note on Friday, May 13th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Buy and an average price target of $15.18.

Shares of NASDAQ VRCA opened at $2.00 on Wednesday. Verrica Pharmaceuticals has a twelve month low of $1.80 and a twelve month high of $14.79. The stock has a 50 day moving average of $6.94 and a two-hundred day moving average of $8.29. The stock has a market cap of $55.04 million, a P/E ratio of -1.28 and a beta of 1.96.

Verrica Pharmaceuticals (NASDAQ:VRCAGet Rating) last released 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 analysts predict that Verrica Pharmaceuticals will post -2.04 EPS for the current year.

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Verrica Pharmaceuticals by 11.8% during the third quarter. Geode Capital Management LLC now owns 238,069 shares of the company’s stock valued at $2,975,000 after buying an additional 25,089 shares in the last quarter. HighVista Strategies LLC acquired a new stake in Verrica Pharmaceuticals during the third quarter valued at $137,000. Barclays PLC lifted its position in shares of Verrica Pharmaceuticals by 213.5% in the third quarter. Barclays PLC now owns 5,352 shares of the company’s stock worth $67,000 after buying an additional 3,645 shares during the last quarter. MML Investors Services LLC lifted its position in shares of Verrica Pharmaceuticals by 30.2% in the third quarter. MML Investors Services LLC now owns 44,875 shares of the company’s stock worth $561,000 after buying an additional 10,400 shares during the last quarter. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Verrica Pharmaceuticals in the first quarter worth about $88,000. Institutional investors and hedge funds own 34.58% of the company’s stock.

Verrica Pharmaceuticals Company Profile (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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Analyst Recommendations for Verrica Pharmaceuticals (NASDAQ:VRCA)

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