Verrica Pharmaceuticals (VRCA) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Verrica Pharmaceuticals (NASDAQ:VRCA) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

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 research analysts also recently commented on VRCA. Jefferies Financial Group initiated coverage on Verrica Pharmaceuticals in a research report on Tuesday, July 10th. They set a buy rating and a $24.00 target price for the company. Cowen initiated coverage on Verrica Pharmaceuticals in a research report on Tuesday, July 10th. They set an outperform rating and a $35.00 target price for the company. Finally, Bank of America initiated coverage on Verrica Pharmaceuticals in a research report on Tuesday, July 10th. They set a buy rating and a $26.00 target price for the company.

NASDAQ VRCA opened at $14.15 on Friday. Verrica Pharmaceuticals has a one year low of $13.23 and a one year high of $23.29.

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

In related news, insider Ted White purchased 2,505 shares of the stock in a transaction that occurred on Wednesday, August 15th. The stock was bought at an average cost of $15.69 per share, for a total transaction of $39,303.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Linda Palczuk purchased 2,500 shares of the stock in a transaction that occurred on Monday, September 17th. The stock was bought at an average price of $16.52 per share, with a total value of $41,300.00. The disclosure for this purchase can be found here. Insiders have bought a total of 38,305 shares of company stock valued at $583,151 over the last quarter.

A number of institutional investors and hedge funds have recently modified their holdings of VRCA. Gilder Gagnon Howe & Co. LLC bought a new stake in Verrica Pharmaceuticals in the second quarter worth $2,941,000. Capital Investment Advisory Services LLC bought a new stake in shares of Verrica Pharmaceuticals during the second quarter worth $211,000. Kornitzer Capital Management Inc. KS bought a new stake in shares of Verrica Pharmaceuticals during the second quarter worth $2,905,000. Dean Capital Investments Management LLC bought a new stake in shares of Verrica Pharmaceuticals during the second quarter worth $676,000. Finally, Asymmetry Capital Management L.P. bought a new stake in shares of Verrica Pharmaceuticals during the second quarter worth $1,184,000. Institutional investors 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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