Verrica Pharmaceuticals (NASDAQ:VRCA) Earns Hold Rating from Needham & Company LLC

Verrica Pharmaceuticals (NASDAQ:VRCA)‘s stock had its “hold” rating restated by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports.

Verrica Pharmaceuticals Stock Performance

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

Verrica Pharmaceuticals (NASDAQ:VRCA) last announced its earnings results on Tuesday, March 11th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.01. Verrica Pharmaceuticals had a negative net margin of 625.06% and a negative return on equity of 591.84%. The firm had revenue of $0.34 million for the quarter, compared to analyst estimates of $1.30 million. As a group, equities analysts forecast that Verrica Pharmaceuticals will post -1.46 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in VRCA. Caligan Partners LP acquired a new position in shares of Verrica Pharmaceuticals during the 4th quarter worth approximately $5,201,000. Boothbay Fund Management LLC acquired a new position in shares of Verrica Pharmaceuticals during the 4th quarter worth approximately $1,811,000. Sovran Advisors LLC acquired a new position in shares of Verrica Pharmaceuticals during the 4th quarter worth approximately $267,000. Heights Capital Management Inc. acquired a new position in shares of Verrica Pharmaceuticals during the 4th quarter worth approximately $246,000. Finally, Rhumbline Advisers lifted its holdings in shares of Verrica Pharmaceuticals by 975.2% during the 4th quarter. Rhumbline Advisers now owns 266,093 shares of the company’s stock worth $186,000 after acquiring an additional 241,344 shares during the period. Institutional investors and hedge funds 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.