Zacks: Verrica Pharmaceuticals Inc (NASDAQ:VRCA) Given $27.00 Average Price Target by Brokerages

Shares of Verrica Pharmaceuticals Inc (NASDAQ:VRCA) have been assigned an average broker rating score of 1.00 (Strong Buy) from the four analysts that cover the company, Zacks Investment Research reports. Four analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 1 year consensus price objective of $27.00 for the company and are expecting that the company will post ($0.34) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Verrica Pharmaceuticals an industry rank of 94 out of 256 based on the ratings given to related companies.

VRCA has been the topic of a number of recent research reports. HC Wainwright raised their price objective on shares of Verrica Pharmaceuticals from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Zacks Investment Research lowered shares of Verrica Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 11th.

In related news, major shareholder Matt Davidson sold 10,338 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $11.92, for a total transaction of $123,228.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 142,604 shares of company stock worth $1,515,205 over the last three months. 40.20% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kornitzer Capital Management Inc. KS lifted its position in shares of Verrica Pharmaceuticals by 7.9% during the second quarter. Kornitzer Capital Management Inc. KS now owns 482,898 shares of the company’s stock valued at $5,611,000 after purchasing an additional 35,557 shares in the last quarter. BlackRock Inc. increased its holdings in Verrica Pharmaceuticals by 4.9% during the fourth quarter. BlackRock Inc. now owns 267,665 shares of the company’s stock worth $2,182,000 after buying an additional 12,537 shares during the last quarter. Asymmetry Capital Management L.P. increased its holdings in Verrica Pharmaceuticals by 12.0% during the first quarter. Asymmetry Capital Management L.P. now owns 70,458 shares of the company’s stock worth $762,000 after buying an additional 7,576 shares during the last quarter. Northern Trust Corp increased its holdings in Verrica Pharmaceuticals by 7.5% during the fourth quarter. Northern Trust Corp now owns 67,028 shares of the company’s stock worth $546,000 after buying an additional 4,689 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Verrica Pharmaceuticals by 31.7% during the fourth quarter. Geode Capital Management LLC now owns 36,906 shares of the company’s stock worth $300,000 after buying an additional 8,885 shares during the last quarter. 34.31% of the stock is currently owned by institutional investors.

VRCA opened at $10.54 on Monday. The company has a 50 day simple moving average of $10.67. Verrica Pharmaceuticals has a 12 month low of $6.44 and a 12 month high of $18.58.

Verrica Pharmaceuticals (NASDAQ:VRCA) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.02). Sell-side analysts anticipate that Verrica Pharmaceuticals will post -1.25 earnings per share for the current fiscal year.

Verrica Pharmaceuticals Company Profile

Verrica Pharmaceuticals Inc, a clinical stage medical dermatology company, develops and commercializes dermatological treatments in the United States. The company's lead product candidate include VP-102 that is in phase III clinical trial for the treatment of molluscum contagiosum; in phase II clinical trial for the treatment of common warts; and completed phase I clinical trial for the treatment of Genital warts.

Read More: Hedge Funds

Get a free copy of the Zacks research report on Verrica Pharmaceuticals (VRCA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Verrica Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verrica Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.