Zacks: Verrica Pharmaceuticals Inc (VRCA) Receives Consensus Rating of “Strong Buy” from Analysts

Shares of Verrica Pharmaceuticals Inc (NASDAQ:VRCA) have received an average broker rating score of 1.00 (Strong Buy) from the three analysts that cover the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong buy rating.

Brokerages have set a twelve-month consensus target price of $28.33 for the company and are anticipating that the company will post ($0.25) EPS for the current quarter, according to Zacks. Zacks has also assigned Verrica Pharmaceuticals an industry rank of 87 out of 255 based on the ratings given to its competitors.

Several research analysts recently issued reports on VRCA shares. Zacks Investment Research lowered shares of Verrica Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, September 20th. Bank of America started coverage on shares of Verrica Pharmaceuticals in a research note on Tuesday, July 10th. They set a “buy” rating and a $26.00 target price on the stock. Cowen started coverage on shares of Verrica Pharmaceuticals in a research note on Tuesday, July 10th. They set an “outperform” rating and a $35.00 target price on the stock. Finally, Jefferies Financial Group started coverage on shares of Verrica Pharmaceuticals in a research note on Tuesday, July 10th. They set a “buy” rating and a $24.00 target price on the stock.

In other news, Director Paul B. Manning purchased 33,000 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The shares were bought at an average cost of $15.08 per share, with a total value of $497,640.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ted White purchased 2,505 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The shares were purchased at an average cost of $15.69 per share, for a total transaction of $39,303.45. The disclosure for this purchase can be found here. Insiders acquired 38,305 shares of company stock worth $583,151 over the last ninety days.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fosun International Ltd bought a new position in shares of Verrica Pharmaceuticals during the second quarter valued at about $15,705,000. Capital Investment Advisory Services LLC bought a new position in shares of Verrica Pharmaceuticals during the second quarter valued at about $211,000. Dean Capital Investments Management LLC bought a new position in shares of Verrica Pharmaceuticals during the second quarter valued at about $676,000. Gilder Gagnon Howe & Co. LLC bought a new position in shares of Verrica Pharmaceuticals during the second quarter valued at about $2,941,000. Finally, Asymmetry Capital Management L.P. bought a new position in shares of Verrica Pharmaceuticals during the second quarter valued at about $1,184,000. 31.86% of the stock is currently owned by institutional investors.

VRCA opened at $13.95 on Friday. Verrica Pharmaceuticals has a twelve month low of $13.00 and a twelve month high of $23.29.

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

Verrica Pharmaceuticals Company Profile

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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