Verrica Pharmaceuticals (NASDAQ:VRCA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, September 20th.

According to Zacks, “Verrica Pharmaceuticals, Inc. operates as a clinical-stage medical dermatology company. It develops and manufactures pharmaceutical products for the treatment of skin diseases such as molluscum contagiosum and dermatology. Verrica Pharmaceuticals, Inc. is based in PA, United States. “

Several other analysts also recently commented on VRCA. Jefferies Financial Group started coverage on Verrica Pharmaceuticals in a research note on Tuesday, July 10th. They set a “buy” rating and a $24.00 target price on the stock. Cowen started coverage on Verrica Pharmaceuticals in a research note on Tuesday, July 10th. They issued an “outperform” rating and a $35.00 price target on the stock. Finally, Bank of America started coverage on Verrica Pharmaceuticals in a research note on Tuesday, July 10th. They issued a “buy” rating and a $26.00 price target on the stock.

Shares of Verrica Pharmaceuticals stock traded up $0.74 during midday trading on Thursday, hitting $13.95. The company had a trading volume of 47,743 shares, compared to its average volume of 67,740. Verrica Pharmaceuticals has a 52-week low of $13.00 and a 52-week high of $23.29.

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

In other Verrica Pharmaceuticals news, COO Linda Palczuk purchased 2,500 shares of the firm’s stock in a transaction on Monday, September 17th. The shares were acquired at an average cost of $16.52 per share, with a total value of $41,300.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul B. Manning purchased 33,000 shares of the firm’s stock in a transaction on Friday, August 10th. The shares were acquired at an average cost of $15.08 per share, for a total transaction of $497,640.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 38,305 shares of company stock worth $583,151.

Several institutional investors have recently modified their holdings of the company. Orbimed Advisors LLC purchased a new position in shares of Verrica Pharmaceuticals during the second quarter valued at about $29,195,000. Laurion Capital Management LP purchased a new position in shares of Verrica Pharmaceuticals during the second quarter valued at about $395,000. Fosun International Ltd purchased a new position in shares of Verrica Pharmaceuticals during the second quarter valued at about $15,705,000. FMR LLC purchased a new position in Verrica Pharmaceuticals in the second quarter worth about $21,703,000. Finally, Asymmetry Capital Management L.P. purchased a new position in Verrica Pharmaceuticals in the second quarter worth about $1,184,000. Hedge funds and other institutional investors own 31.86% of the company’s stock.

About Verrica Pharmaceuticals

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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