Verrica Pharmaceuticals (NASDAQ:VRCA) Issues Earnings Results, Beats Expectations By $0.01 EPS

Verrica Pharmaceuticals (NASDAQ:VRCA) posted its quarterly earnings results on Tuesday. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.01, Zacks reports. Verrica Pharmaceuticals had a negative return on equity of 591.84% and a negative net margin of 625.06%. The company had revenue of $0.34 million for the quarter, compared to analysts’ expectations of $1.30 million.

Verrica Pharmaceuticals Price Performance

VRCA stock opened at $0.65 on Wednesday. The company’s 50 day simple moving average is $0.68 and its 200-day simple moving average is $1.13. Verrica Pharmaceuticals has a 52-week low of $0.58 and a 52-week high of $11.41. The firm has a market capitalization of $29.56 million, a P/E ratio of -0.35 and a beta of 1.44.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC restated a “hold” rating on shares of Verrica Pharmaceuticals in a report on Friday, December 20th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $9.50.

Hedge Funds Weigh In On Verrica Pharmaceuticals

A hedge fund recently raised its stake in Verrica Pharmaceuticals stock. Bank of America Corp DE increased its holdings in shares of Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) by 347.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,818 shares of the company’s stock after buying an additional 111,678 shares during the quarter. Bank of America Corp DE owned 0.32% of Verrica Pharmaceuticals worth $101,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 42.45% of the company’s stock.

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.