Verrica Pharmaceuticals (NASDAQ:VRCA) Shares Down 2% – What’s Next?

Shares of Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) dropped 2% on Friday. The stock traded as low as $3.25 and last traded at $3.35. 33,786 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 53,652 shares. The stock had previously closed at $3.42.

Analysts Set New Price Targets

VRCA has been the topic of several recent research reports. Lake Street Capital began coverage on shares of Verrica Pharmaceuticals in a report on Thursday, August 27th. They set a “buy” rating and a $9.00 target price on the stock. Wall Street Zen upgraded Verrica Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 26th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Verrica Pharmaceuticals in a research report on Tuesday, October 13th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $12.67.

Verrica Pharmaceuticals Trading Down 2.0%

The company has a 50 day simple moving average of $4.41 and a two-hundred day simple moving average of $5.62. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.33 and a current ratio of 1.45. The firm has a market cap of $57.55 million, a PE ratio of -2.01 and a beta of 1.60.

Institutional Trading of Verrica Pharmaceuticals

A hedge fund recently raised its stake in Verrica Pharmaceuticals stock. Renaissance Technologies LLC lifted its holdings in Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) by 22.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,360 shares of the company’s stock after acquiring an additional 5,960 shares during the quarter. Renaissance Technologies LLC owned 0.19% of Verrica Pharmaceuticals worth $171,000 as of its most recent SEC filing. Institutional investors and hedge funds own 42.45% of the company’s stock.

About Verrica Pharmaceuticals

Verrica Pharmaceuticals Inc is a dermatology-focused biopharmaceutical company developing and commercializing therapies for skin diseases that have limited or inadequate treatment options. The company’s activities center on prescription products designed for use by dermatologists and other healthcare professionals.

Verrica’s lead commercial product is YCANTHE (cantharidin) topical solution, 0.7%, a prescription treatment approved by the U.S. Food and Drug Administration for molluscum contagiosum in adults and children two years of age and older.