Verrica Pharmaceuticals (NASDAQ:VRCA) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Verrica Pharmaceuticals (NASDAQ:VRCA) in a research report sent to investors on Wednesday,Benzinga reports.

Verrica Pharmaceuticals Trading Down 7.6 %

Shares of NASDAQ VRCA opened at $0.60 on Wednesday. Verrica Pharmaceuticals has a 12 month low of $0.54 and a 12 month high of $11.41. The stock has a 50 day moving average of $0.68 and a 200-day moving average of $1.11. The company has a market capitalization of $27.32 million, a P/E ratio of -0.33 and a beta of 1.44.

Verrica Pharmaceuticals (NASDAQ:VRCA) last issued its earnings results on Tuesday, March 11th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.01. The company had revenue of $0.34 million during the quarter, compared to the consensus estimate of $1.30 million. Verrica Pharmaceuticals had a negative return on equity of 591.84% and a negative net margin of 625.06%. Analysts predict that Verrica Pharmaceuticals will post -1.46 EPS for the current fiscal year.

Institutional Trading of Verrica Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in Verrica Pharmaceuticals by 347.5% in the 4th quarter. Bank of America Corp DE now owns 143,818 shares of the company’s stock valued at $101,000 after purchasing an additional 111,678 shares during the period. Caligan Partners LP acquired a new position in Verrica Pharmaceuticals in the 4th quarter worth about $5,201,000. Boothbay Fund Management LLC acquired a new position in Verrica Pharmaceuticals in the 4th quarter worth about $1,811,000. Heights Capital Management Inc. bought a new stake in shares of Verrica Pharmaceuticals in the 4th quarter valued at about $246,000. Finally, Renaissance Technologies LLC grew its position in shares of Verrica Pharmaceuticals by 57.7% in the 4th quarter. Renaissance Technologies LLC now owns 233,300 shares of the company’s stock valued at $163,000 after buying an additional 85,336 shares during the last 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.