Verrica Pharmaceuticals (NASDAQ:VRCA – Get Rating)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a report released on Tuesday, Benzinga reports. They presently have a $11.00 price objective on the stock. Royal Bank of Canada’s target price points to a potential upside of 61.29% from the company’s current price.
Verrica Pharmaceuticals Stock Performance
Shares of NASDAQ VRCA opened at $6.82 on Tuesday. The stock has a market cap of $280.26 million, a PE ratio of -8.32 and a beta of 2.03. Verrica Pharmaceuticals has a fifty-two week low of $1.77 and a fifty-two week high of $9.22. The stock has a fifty day moving average of $5.57 and a 200-day moving average of $3.89.
Verrica Pharmaceuticals (NASDAQ:VRCA – Get Rating) last announced its quarterly earnings results on Monday, March 6th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.05. The company had revenue of $0.07 million during the quarter. Verrica Pharmaceuticals had a negative return on equity of 77.71% and a negative net margin of 271.11%. On average, sell-side analysts predict that Verrica Pharmaceuticals will post -1.11 EPS for the current year.
Hedge Funds Weigh In On Verrica Pharmaceuticals
Hedge funds have recently made changes to their positions in the stock. LPL Financial LLC grew its position in shares of Verrica Pharmaceuticals by 18.2% in the fourth quarter. LPL Financial LLC now owns 26,000 shares of the company’s stock valued at $72,000 after purchasing an additional 4,000 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Verrica Pharmaceuticals by 193.9% during the second quarter. Goldman Sachs Group Inc. now owns 31,750 shares of the company’s stock worth $61,000 after buying an additional 20,948 shares in the last quarter. Creative Planning grew its position in Verrica Pharmaceuticals by 35.4% during the fourth quarter. Creative Planning now owns 20,018 shares of the company’s stock worth $55,000 after buying an additional 5,237 shares in the last quarter. Jane Street Group LLC purchased a new position in Verrica Pharmaceuticals during the fourth quarter worth about $50,000. Finally, Virtu Financial LLC purchased a new position in Verrica Pharmaceuticals during the second quarter worth about $47,000. 24.94% of the stock is currently owned by hedge funds and other institutional investors.
About Verrica Pharmaceuticals
Verrica Pharmaceuticals, Inc engages in identifying, developing, and commercializing pharmaceutical products for the treatment of skin diseases. Its lead product candidate VP-102, is a proprietary topical therapy used in common skin indications including molluscum contagiosum and verruca vulgaris. The company was founded by Matthew Davidson on July 3, 2013 and is headquartered in West Chester, PA.
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