Verrica Pharmaceuticals (VRCA) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Verrica Pharmaceuticals (NASDAQ:VRCA) from a hold rating to a sell rating in a report published on Wednesday 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. “

Other analysts also recently issued reports about the company. Bank of America started coverage on Verrica Pharmaceuticals in a research note on Tuesday, July 10th. They issued a buy rating and a $26.00 target price for the company. Jefferies Financial Group started coverage on Verrica Pharmaceuticals in a research note on Tuesday, July 10th. They issued a buy rating and a $24.00 target price for the company. Finally, Cowen started coverage on Verrica Pharmaceuticals in a research note on Tuesday, July 10th. They issued an outperform rating and a $35.00 target price for the company.

Shares of Verrica Pharmaceuticals stock opened at $16.42 on Wednesday. Verrica Pharmaceuticals has a 1-year low of $13.23 and a 1-year high of $23.29.

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

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

Several institutional investors and hedge funds have recently modified their holdings of the company. Orbimed Advisors LLC acquired a new stake in shares of Verrica Pharmaceuticals in the 2nd quarter valued at about $29,195,000. Laurion Capital Management LP acquired a new position in Verrica Pharmaceuticals during the 2nd quarter valued at about $395,000. Fosun International Ltd acquired a new position in Verrica Pharmaceuticals during the 2nd quarter valued at about $15,705,000. FMR LLC acquired a new position in Verrica Pharmaceuticals during the 2nd quarter valued at about $21,703,000. Finally, Asymmetry Capital Management L.P. acquired a new position in Verrica Pharmaceuticals during the 2nd quarter valued at about $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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