Verrica Pharmaceuticals (NASDAQ:VRCA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Verrica Pharmaceuticals (NASDAQ:VRCA) from a hold rating to a buy rating in a research report report published on Saturday morning.

Other analysts have also recently issued research reports about the stock. Cowen reiterated a “buy” rating on shares of Verrica Pharmaceuticals in a research note on Wednesday, January 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Verrica Pharmaceuticals in a research report on Wednesday, October 8th. Brookline Capital Management upgraded Verrica Pharmaceuticals from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Thursday, December 18th. Zacks Research raised Verrica Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. Finally, Loop Capital set a $17.00 target price on Verrica Pharmaceuticals in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Verrica Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Verrica Pharmaceuticals Price Performance

Verrica Pharmaceuticals stock opened at $7.26 on Friday. The stock’s 50 day moving average price is $7.14 and its 200 day moving average price is $6.00. Verrica Pharmaceuticals has a 1-year low of $3.28 and a 1-year high of $9.82. The company has a market cap of $116.09 million, a PE ratio of -2.13 and a beta of 1.45.

Verrica Pharmaceuticals (NASDAQ:VRCA) last released its earnings results on Friday, November 14th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of ($1.14) by $1.27. The business had revenue of $14.34 million during the quarter, compared to analyst estimates of $8.34 million. On average, equities research analysts anticipate that Verrica Pharmaceuticals will post -1.46 EPS for the current fiscal year.

Insider Activity

In other news, COO David Zawitz acquired 10,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were bought at an average price of $4.24 per share, with a total value of $42,400.00. Following the completion of the acquisition, the chief operating officer owned 21,000 shares in the company, valued at $89,040. This trade represents a 90.91% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul B. Manning purchased 2,750,762 shares of Verrica Pharmaceuticals stock in a transaction that occurred on Tuesday, November 25th. The stock was purchased at an average price of $4.24 per share, with a total value of $11,663,230.88. Following the completion of the purchase, the director directly owned 3,348,372 shares in the company, valued at $14,197,097.28. This trade represents a 460.29% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 4,236,346 shares of company stock worth $17,962,107. Corporate insiders own 54.00% of the company’s stock.

Hedge Funds Weigh In On Verrica Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its position in shares of Verrica Pharmaceuticals by 306.7% during the 1st quarter. AQR Capital Management LLC now owns 58,711 shares of the company’s stock valued at $26,000 after purchasing an additional 44,275 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in Verrica Pharmaceuticals in the second quarter valued at approximately $28,000. Invesco Ltd. boosted its holdings in shares of Verrica Pharmaceuticals by 64.8% during the 1st quarter. Invesco Ltd. now owns 74,388 shares of the company’s stock worth $33,000 after buying an additional 29,256 shares in the last quarter. Bridgeway Capital Management LLC acquired a new stake in shares of Verrica Pharmaceuticals during the 3rd quarter worth approximately $52,000. Finally, Goldman Sachs Group Inc. grew its position in shares of Verrica Pharmaceuticals by 23.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 139,055 shares of the company’s stock worth $61,000 after buying an additional 26,308 shares during the period. Institutional investors own 42.45% of the company’s stock.

About Verrica Pharmaceuticals

Verrica Pharmaceuticals Inc is a clinical?stage biopharmaceutical company focused on the development and commercialization of topical therapies for dermatological conditions. Its lead investigational product, VP-102, is a standardized formulation of cantharidin in a pre-measured applicator designed to treat molluscum contagiosum and common warts. Verrica’s approach emphasizes consistency of dosing and patient convenience, aiming to improve upon off?label use of existing treatments.

Beyond VP-102, Verrica is advancing VP-103, a next?generation topical candidate intended to optimize tolerability while maintaining efficacy against viral skin lesions.