Verrica Pharmaceuticals (NASDAQ:VRCA) Announces Earnings Results

Verrica Pharmaceuticals (NASDAQ:VRCA) issued its earnings results on Tuesday. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.01, Zacks reports. The company had revenue of $0.34 million during the quarter, compared to analysts’ expectations of $1.30 million. Verrica Pharmaceuticals had a negative net margin of 625.06% and a negative return on equity of 591.84%.

Verrica Pharmaceuticals Stock Performance

NASDAQ:VRCA opened at $0.65 on Wednesday. The firm’s fifty day moving average is $0.68 and its 200-day moving average is $1.13. Verrica Pharmaceuticals has a 52 week low of $0.58 and a 52 week high of $11.41. The firm has a market cap of $29.56 million, a P/E ratio of -0.35 and a beta of 1.44.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC restated a “hold” rating on shares of Verrica Pharmaceuticals in a research report on Friday, December 20th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Verrica Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $9.50.

Institutional Investors Weigh In On Verrica Pharmaceuticals

A hedge fund recently raised its stake in Verrica Pharmaceuticals stock. Bank of America Corp DE increased its stake in shares of Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) by 347.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 143,818 shares of the company’s stock after acquiring an additional 111,678 shares during the quarter. Bank of America Corp DE owned approximately 0.32% of Verrica Pharmaceuticals worth $101,000 at the end of the most recent quarter. 42.45% of the stock is currently owned by 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.