Jefferies Financial Group reaffirmed their buy rating on shares of Verrica Pharmaceuticals (NASDAQ:VRCA) in a report issued on Tuesday morning, Price Targets.com reports. Jefferies Financial Group currently has a $20.00 price objective on the stock.
A number of other research firms have also issued reports on VRCA. Zacks Investment Research lowered Verrica Pharmaceuticals from a buy rating to a hold rating in a report on Friday, September 3rd. Needham & Company LLC decreased their target price on Verrica Pharmaceuticals from $22.00 to $20.00 and set a buy rating for the company in a report on Tuesday. Royal Bank of Canada cut their price target on Verrica Pharmaceuticals from $19.00 to $16.00 and set an outperform rating on the stock in a research note on Tuesday. Finally, Northland Securities cut their price target on Verrica Pharmaceuticals from $24.00 to $19.00 and set an outperform rating on the stock in a research note on Tuesday, June 1st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Verrica Pharmaceuticals presently has a consensus rating of Buy and a consensus target price of $18.00.
NASDAQ:VRCA opened at $11.51 on Tuesday. The firm has a market cap of $316.70 million, a PE ratio of -8.16 and a beta of 2.27. The stock has a fifty day moving average price of $11.24 and a 200 day moving average price of $12.14. Verrica Pharmaceuticals has a 12-month low of $7.05 and a 12-month high of $18.42.
Institutional investors and hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new stake in shares of Verrica Pharmaceuticals during the second quarter worth about $47,000. Nisa Investment Advisors LLC acquired a new stake in shares of Verrica Pharmaceuticals during the second quarter worth about $51,000. New York State Common Retirement Fund increased its position in shares of Verrica Pharmaceuticals by 72.5% during the first quarter. New York State Common Retirement Fund now owns 8,107 shares of the company’s stock worth $123,000 after purchasing an additional 3,407 shares in the last quarter. UBS Group AG increased its position in shares of Verrica Pharmaceuticals by 62.5% during the first quarter. UBS Group AG now owns 9,921 shares of the company’s stock worth $150,000 after purchasing an additional 3,814 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Verrica Pharmaceuticals during the first quarter worth about $155,000. Institutional investors and hedge funds own 36.44% of the company’s stock.
About Verrica Pharmaceuticals
Verrica Pharmaceuticals, Inc engages in identifying, developing, and commercializing pharmaceutical products for the treatment of skin diseases. Its lead product candidate VP-102, is a proprietary topical therapy used in common skin indications including molluscum contagiosum and verruca vulgaris. The company was founded by Matthew Davidson on July 3, 2013 and is headquartered in West Chester, PA.
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