Verrica Pharmaceuticals (NASDAQ:VRCA) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Verrica Pharmaceuticals (NASDAQ:VRCA) in a report published on Wednesday,Benzinga reports.

Verrica Pharmaceuticals Stock Performance

VRCA stock opened at $0.60 on Wednesday. The stock’s 50 day simple moving average is $0.68 and its 200 day simple moving average is $1.11. Verrica Pharmaceuticals has a fifty-two week low of $0.54 and a fifty-two week high of $11.41. The company has a market cap of $27.32 million, a P/E ratio of -0.33 and a beta of 1.44.

Verrica Pharmaceuticals (NASDAQ:VRCA) last posted its quarterly earnings results on Tuesday, March 11th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.01. The business had revenue of $0.34 million for the quarter, compared to the consensus estimate of $1.30 million. Verrica Pharmaceuticals had a negative return on equity of 591.84% and a negative net margin of 625.06%. Equities analysts predict that Verrica Pharmaceuticals will post -1.46 earnings per share for the current year.

Institutional Trading of Verrica Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of VRCA. Verition Fund Management LLC purchased a new stake in shares of Verrica Pharmaceuticals in the third quarter worth approximately $89,000. State Street Corp raised its stake in shares of Verrica Pharmaceuticals by 13.5% in the third quarter. State Street Corp now owns 512,821 shares of the company’s stock worth $744,000 after purchasing an additional 61,041 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Verrica Pharmaceuticals by 106.5% in the third quarter. Jane Street Group LLC now owns 69,872 shares of the company’s stock worth $101,000 after purchasing an additional 36,028 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Verrica Pharmaceuticals in the third quarter worth approximately $335,000. Finally, Barclays PLC raised its stake in shares of Verrica Pharmaceuticals by 404.6% in the third quarter. Barclays PLC now owns 31,341 shares of the company’s stock worth $45,000 after purchasing an additional 25,130 shares during the last quarter. 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.