Zacks: Verrica Pharmaceuticals Inc (NASDAQ:VRCA) Given Average Recommendation of “Strong Buy” by Brokerages

Shares of Verrica Pharmaceuticals Inc (NASDAQ:VRCA) have been given a consensus broker rating score of 1.00 (Strong Buy) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. Four research analysts have rated the stock with a strong buy recommendation.

Brokers have set a 1 year consensus target price of $27.00 for the company and are forecasting that the company will post ($0.34) EPS for the current quarter, according to Zacks. Zacks has also assigned Verrica Pharmaceuticals an industry rank of 78 out of 256 based on the ratings given to related companies.

Several analysts have weighed in on the company. HC Wainwright boosted their price target on Dova Pharmaceuticals from $18.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Zacks Investment Research downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th.

In other Verrica Pharmaceuticals news, major shareholder Matt Davidson sold 3,516 shares of the business’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $10.54, for a total transaction of $37,058.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 117,098 shares of company stock worth $1,211,252. Company insiders own 40.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. New York State Common Retirement Fund purchased a new stake in Verrica Pharmaceuticals during the 4th quarter valued at about $28,000. Bank of New York Mellon Corp boosted its stake in shares of Verrica Pharmaceuticals by 39.1% in the fourth quarter. Bank of New York Mellon Corp now owns 16,662 shares of the company’s stock worth $136,000 after buying an additional 4,681 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Verrica Pharmaceuticals by 7.5% in the fourth quarter. Northern Trust Corp now owns 67,028 shares of the company’s stock worth $546,000 after buying an additional 4,689 shares during the last quarter. Asymmetry Capital Management L.P. boosted its stake in shares of Verrica Pharmaceuticals by 12.0% in the first quarter. Asymmetry Capital Management L.P. now owns 70,458 shares of the company’s stock worth $762,000 after buying an additional 7,576 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Verrica Pharmaceuticals by 31.7% in the fourth quarter. Geode Capital Management LLC now owns 36,906 shares of the company’s stock worth $300,000 after buying an additional 8,885 shares during the last quarter. Institutional investors and hedge funds own 34.31% of the company’s stock.

Shares of NASDAQ:VRCA opened at $11.00 on Tuesday. The company’s 50-day simple moving average is $9.52. Verrica Pharmaceuticals has a 1 year low of $6.44 and a 1 year high of $19.10.

Verrica Pharmaceuticals (NASDAQ:VRCA) last announced its earnings results on Tuesday, May 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.02). Equities analysts predict that Verrica Pharmaceuticals will post -1.25 earnings per share for the current fiscal year.

About Verrica Pharmaceuticals

Verrica Pharmaceuticals Inc, a clinical stage medical dermatology company, develops and commercializes dermatological treatments in the United States. The company's lead product candidate include VP-102 that is in phase III clinical trial for the treatment of molluscum contagiosum; in phase II clinical trial for the treatment of common warts; and completed phase I clinical trial for the treatment of Genital warts.

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