Verrica Pharmaceuticals (VRCA) Cut to Sell at Zacks Investment Research

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Zacks Investment Research cut shares of Verrica Pharmaceuticals (NASDAQ:VRCA) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

According to Zacks, “Verrica Pharmaceuticals, Inc. operates as a clinical-stage medical dermatology company. It develops and manufactures pharmaceutical products for the treatment of skin diseases such as molluscum contagiosum and dermatology. Verrica Pharmaceuticals, Inc. is based in PA, United States. “

A number of other equities research analysts have also issued reports on the stock. Bank of America assumed coverage on shares of Verrica Pharmaceuticals in a report on Tuesday, July 10th. They set a buy rating and a $26.00 target price on the stock. Cowen started coverage on shares of Verrica Pharmaceuticals in a report on Tuesday, July 10th. They set an outperform rating and a $35.00 target price on the stock. Finally, Jefferies Financial Group started coverage on shares of Verrica Pharmaceuticals in a report on Tuesday, July 10th. They issued a buy rating and a $24.00 price objective on the stock.

Verrica Pharmaceuticals stock opened at $16.42 on Wednesday. Verrica Pharmaceuticals has a 52-week low of $13.23 and a 52-week high of $23.29.

Verrica Pharmaceuticals (NASDAQ:VRCA) last released its earnings results on Tuesday, August 7th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.76). equities research analysts expect that Verrica Pharmaceuticals will post -1.15 earnings per share for the current year.

In other news, insider Ted White acquired 2,505 shares of Verrica Pharmaceuticals stock in a transaction dated Wednesday, August 15th. The shares were acquired at an average cost of $15.69 per share, for a total transaction of $39,303.45. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Paul B. Manning acquired 33,000 shares of Verrica Pharmaceuticals stock in a transaction dated Friday, August 10th. The stock was purchased at an average price of $15.08 per share, for a total transaction of $497,640.00. The disclosure for this purchase can be found here. Insiders bought a total of 35,805 shares of company stock worth $541,851 over the last 90 days.

Several institutional investors and hedge funds have recently made changes to their positions in VRCA. Orbimed Advisors LLC acquired a new stake in shares of Verrica Pharmaceuticals in the 2nd quarter valued at $29,195,000. FMR LLC acquired a new stake in shares of Verrica Pharmaceuticals in the 2nd quarter valued at $21,703,000. Fosun International Ltd acquired a new stake in shares of Verrica Pharmaceuticals in the 2nd quarter valued at $15,705,000. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Verrica Pharmaceuticals in the 2nd quarter valued at $2,941,000. Finally, Kornitzer Capital Management Inc. KS acquired a new stake in shares of Verrica Pharmaceuticals in the 2nd quarter valued at $2,905,000. Institutional investors and hedge funds own 31.86% of the company’s stock.

About Verrica Pharmaceuticals

Verrica Pharmaceuticals, Inc operates as a clinical-stage medical dermatology company, which engages in identifying, developing, and commercializing pharmaceutical products for the treatment of skin diseases. Its lead product VP-102, is a proprietary topical therapy used in common skin indications including Molluscum contagiosum and Verruca Vulgaris.

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